Roivant Sciences (NASDAQ:ROIV) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Key Points

• Roivant Sciences reported a quarterly loss of $0.19 per share, beating analyst estimates of a $0.37 loss by $0.18. Revenue was $35.12 million, well above the $4.14 million consensus estimate.
• Analysts maintained a broadly positive outlook: the stock carries a “Moderate Buy” consensus rating and an average price target of $46.55; several firms recently raised their targets.
• Company insiders sold about 2.02 million shares worth roughly $73.4 million during the quarter, including sales by CEO Eric Venker and insider Mayukh Sukhatme.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.18, reports. The business had revenue of $35.12 million during the quarter, compared to the consensus estimate of $4.14 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%.

Roivant Sciences Price Performance

Shares of ROIV stock opened at $38.88 on Monday. The business's fifty day moving average price is $36.69 and its 200 day moving average price is $31.80. Roivant Sciences has a 1-year low of $19.79 and a 1-year high of $42.50. The firm has a market capitalization of $28.08 billion, a PE ratio of -73.36 and a beta of 1.23.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup upped their price target on shares of Roivant Sciences from $46.00 to $56.00 and gave the company a "buy" rating in a research report on Wednesday, October 28th. Jefferies Financial Group raised their price objective on shares of Roivant Sciences from $42.00 to $52.00 and gave the stock a "buy" rating in a research report on Tuesday, September 8th. TD Cowen restated a "buy" rating on shares of Roivant Sciences in a research note on Wednesday, October 21st. Guggenheim upped their target price on shares of Roivant Sciences from $42.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, September 9th. Finally, Stifel Nicolaus initiated coverage on Roivant Sciences in a research report on Wednesday, September 16th. They set a "buy" rating and a $51.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.55.

Insider Buying and Selling at Roivant Sciences

In other news, insider Mayukh Sukhatme sold 284,707 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $36.25, for a total transaction of $10,320,628.75. Following the transaction, the insider directly owned 18,630,739 shares of the company's stock, valued at $675,364,288.75. This represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $35.11, for a total transaction of $7,022,000.00. Following the completion of the transaction, the chief executive officer owned 1,399,154 shares of the company's stock, valued at $49,124,296.94. This represents a 12.51% 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 sold 2,022,688 shares of company stock valued at $73,438,636 in the last quarter. 8.80% of the stock is currently owned by company insiders.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases.

Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.

Roivant operates internationally, with activities spanning the United States and other markets.

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