Roivant Sciences (NASDAQ:ROIV) Stock Gets Price Target Increase from Citigroup

Key Points

• Citigroup raised Roivant Sciences’ price target from $46 to $56 while maintaining a “buy” rating, implying 50.9% upside from the prior close.
• ROIV shares rose 1.6% to $37.11, while analysts collectively rated the stock “Moderate Buy” with an average price target of $46.55.
• Roivant beat quarterly EPS expectations, reporting a loss of $0.26 per share versus the consensus loss of $0.30, though revenue of $1.44 million fell short of estimates.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) had its target price upped by Citigroup from $46.00 to $56.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target suggests a potential upside of 50.90% from the company's previous close.

A number of other analysts have also commented on ROIV. Bank of America reiterated a "neutral" rating on shares of Roivant Sciences in a research report on Friday, July 31st. Stifel Nicolaus assumed coverage on shares of Roivant Sciences in a research report on Wednesday, September 16th. They set a "buy" rating and a $51.00 target price on the stock. UBS Group set a $55.00 target price on shares of Roivant Sciences in a research note on Wednesday, September 9th. HC Wainwright upped their target price on shares of Roivant Sciences from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Roivant Sciences currently has an average rating of "Moderate Buy" and an average price target of $46.55.

Roivant Sciences Stock Up 1.6%

NASDAQ:ROIV traded up $0.57 during trading hours on Wednesday, hitting $37.11. 3,230,313 shares of the stock were exchanged, compared to its average volume of 6,457,126. The company has a market capitalization of $26.81 billion, a P/E ratio of -70.02 and a beta of 1.10. The company's 50 day moving average is $36.65 and its two-hundred day moving average is $31.23. Roivant Sciences has a twelve month low of $18.32 and a twelve month high of $42.50.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its earnings results on Friday, August 7th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $1.44 million during 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, equities research analysts expect that Roivant Sciences will post -2.00 EPS for the current year.

Insider Buying and Selling at Roivant Sciences

In related news, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $35.11, for a total value of $7,022,000.00. Following the sale, the chief executive officer owned 1,399,154 shares of the company's stock, valued at approximately $49,124,296.94. This trade represents a 12.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 144,756 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $36.48, for a total value of $5,280,698.88. Following the completion of the sale, the insider owned 18,630,739 shares in the company, valued at $679,649,358.72. The trade was a 0.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,622,688 shares of company stock valued at $58,858,636 in the last 90 days. 8.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roivant Sciences

Several hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its position in shares of Roivant Sciences by 10.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 131,796 shares of the company's stock worth $4,811,000 after acquiring an additional 12,524 shares in the last quarter. North Dakota State Investment Board raised its position in Roivant Sciences by 20.7% during the third quarter. North Dakota State Investment Board now owns 15,246 shares of the company's stock valued at $558,000 after purchasing an additional 2,618 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in Roivant Sciences during the third quarter worth $7,360,000. Signaturefd LLC increased its stake in shares of Roivant Sciences by 10.9% in the 3rd quarter. Signaturefd LLC now owns 4,487 shares of the company's stock valued at $164,000 after purchasing an additional 440 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of Roivant Sciences by 59.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 17,126 shares of the company's stock valued at $626,000 after purchasing an additional 6,382 shares during the last quarter. 64.76% of the stock is owned by institutional investors.

About Roivant Sciences

Roivant Sciences Ltd. NASDAQ: ROIV is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.

Roivant's research and development activities have included immunology, dermatology, women's health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.

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