HC Wainwright Reiterates Buy Rating for Roivant Sciences (NASDAQ:ROIV)

Key Points

• HC Wainwright reaffirmed its Buy rating on Roivant Sciences, with a $41 price target implying approximately 9.1% upside from the stock’s $37.58 price. Analysts overall maintain a “Moderate Buy” consensus and an average target of $35.14.
• Roivant reported quarterly EPS of -$0.26, beating the consensus estimate of -$0.30, although revenue of $1.44 million fell short of expectations of $2.06 million. Analysts expect a full-year loss of approximately $2 per share.
• Institutional investors own 64.76% of Roivant, while insiders own 8.8%; however, insiders sold approximately $100.1 million worth of shares over the past 90 days.

Roivant Sciences (NASDAQ:ROIV - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $41.00 target price on the stock. HC Wainwright's price objective indicates a potential upside of 9.10% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. Leerink Partners set a $42.00 price objective on shares of Roivant Sciences in a research report on Thursday, May 21st. TD Cowen reiterated a "buy" rating on shares of Roivant Sciences in a research note on Thursday, August 6th. Guggenheim lifted their target price on Roivant Sciences from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Piper Sandler reissued an "overweight" rating on shares of Roivant Sciences in a report on Thursday, May 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.14.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $37.58 on Friday. Roivant Sciences has a fifty-two week low of $11.85 and a fifty-two week high of $37.97. The stock has a market capitalization of $27.14 billion, a price-to-earnings ratio of -70.91 and a beta of 1.12. The business has a 50-day moving average of $35.09 and a 200-day moving average of $30.88.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.04. The company had revenue of $1.44 million for the quarter, compared to analysts' expectations of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. On average, sell-side analysts expect that Roivant Sciences will post -2 EPS for the current year.

Insider Buying and Selling at Roivant Sciences

In related news, CEO Eric Venker sold 200,000 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $33.16, for a total value of $6,632,000.00. Following the sale, the chief executive officer owned 1,613,063 shares of the company's stock, valued at $53,489,169.08. The trade was a 11.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Melissa B. Epperly sold 17,750 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $34.38, for a total transaction of $610,245.00. Following the completion of the transaction, the director owned 16,474 shares in the company, valued at $566,376.12. This trade represents a 51.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,855,913 shares of company stock worth $100,107,258 in the last 90 days. Corporate insiders own 8.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Roivant Sciences by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company's stock valued at $912,681,000 after purchasing an additional 3,254,113 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Roivant Sciences by 90.9% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 80,561 shares of the company's stock worth $1,746,000 after purchasing an additional 38,354 shares in the last quarter. Nicholas Investment Partners LP raised its stake in shares of Roivant Sciences by 13.9% in the fourth quarter. Nicholas Investment Partners LP now owns 279,856 shares of the company's stock worth $6,073,000 after purchasing an additional 34,235 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Roivant Sciences by 8.0% in the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company's stock worth $87,638,000 after purchasing an additional 235,493 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Roivant Sciences in the first quarter valued at approximately $3,957,000. Institutional investors and hedge funds own 64.76% of the company's stock.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women's health.

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