Roivant Sciences Ltd. (NASDAQ:ROIV) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts give Roivant Sciences a “Moderate Buy” consensus: Of 13 analysts, 10 rated the stock a buy, one a strong buy, one a hold and one a sell. The average 12-month price target is $45.64, with targets ranging as high as $55.
• Roivant shares opened at $35.53, down 0.7%, with a market capitalization of approximately $25.66 billion. The company’s latest quarterly loss of $0.26 per share was better than expectations, although revenue of $1.44 million fell short of estimates.
• Insiders sold heavily while institutional ownership remained strong: Insiders sold 1.62 million shares worth about $58.8 million during the latest quarter, while institutional investors own 64.76% of the company and several major funds increased their positions.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $45.64.

ROIV has been the subject of several analyst reports. HC Wainwright increased their target price on Roivant Sciences from $41.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, September 8th. Sanford C. Bernstein raised Roivant Sciences to a "strong-buy" rating in a research note on Wednesday, July 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Roivant Sciences in a research note on Wednesday, August 19th. Stifel Nicolaus assumed coverage on shares of Roivant Sciences in a report on Wednesday, September 16th. They issued a "buy" rating and a $51.00 target price on the stock. Finally, UBS Group set a $55.00 target price on shares of Roivant Sciences in a research note on Wednesday, September 9th.

Roivant Sciences Stock Down 0.7%

Roivant Sciences stock opened at $35.53 on Wednesday. The company has a market capitalization of $25.66 billion, a PE ratio of -67.04 and a beta of 1.10. The firm has a fifty day simple moving average of $36.64 and a two-hundred day simple moving average of $32.71. Roivant Sciences has a twelve month low of $15.25 and a twelve month high of $42.50.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. The business had revenue of $1.44 million during the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. As a group, equities analysts expect that Roivant Sciences will post -2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roivant Sciences news, Director Melissa Epperly sold 17,750 shares of the firm's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $36.10, for a total value of $640,775.00. Following the sale, the director owned 14,954 shares of the company's stock, valued at $539,839.40. This trade represents a 54.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the business's stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $36.62, for a total transaction of $7,324,000.00. Following the completion of the transaction, the chief executive officer owned 1,599,154 shares in the company, valued at $58,561,019.48. The trade was a 11.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,622,688 shares of company stock valued at $58,826,636 in the last quarter. Insiders own 8.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ROIV. Assenagon Asset Management S.A. raised its stake in Roivant Sciences by 18.2% in the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company's stock worth $295,965,000 after buying an additional 1,286,464 shares in the last quarter. Perceptive Advisors LLC boosted its position in Roivant Sciences by 3.8% during the 1st quarter. Perceptive Advisors LLC now owns 8,285,461 shares of the company's stock valued at $229,507,000 after acquiring an additional 300,000 shares in the last quarter. Baker BROS. Advisors LP boosted its position in Roivant Sciences by 47.4% during the 4th quarter. Baker BROS. Advisors LP now owns 5,555,017 shares of the company's stock valued at $120,544,000 after acquiring an additional 1,787,244 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Roivant Sciences by 179.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,687,870 shares of the company's stock worth $95,124,000 after acquiring an additional 1,724,588 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Roivant Sciences by 8.0% during the 1st quarter. Bank of America Corp DE now owns 3,163,821 shares of the company's stock worth $87,638,000 after acquiring an additional 235,493 shares during the period. Institutional investors own 64.76% of the company's stock.

About Roivant Sciences

Roivant Sciences Ltd. NASDAQ: ROIV is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with serious or underserved diseases. The company operates through a network of subsidiary companies, known as “Vants,” each dedicated to specific therapeutic areas, drug candidates or commercial opportunities.

Roivant's research and development activities have included treatments for immune-mediated diseases, rare disorders, oncology and conditions affecting the nervous system.

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