Guggenheim Boosts Roivant Sciences (NASDAQ:ROIV) Price Target to $21.00

Key Points

• Guggenheim has raised its price target for Roivant Sciences (NASDAQ:ROIV) from $15.00 to $21.00, indicating a potential upside of 37.70% from the current price.
• Several other firms, including Leerink Partners and HC Wainwright, have also increased their price targets for Roivant, with consensus now at $19.21.
• Insider selling activity has been noted, with CEO Eric Venker selling 100,000 shares for approximately $1.17 million, reducing his ownership stake by 5.70%.

Roivant Sciences (NASDAQ:ROIV - Free Report) had its price target boosted by Guggenheim from $15.00 to $21.00 in a research note released on Thursday, Marketbeat reports. Guggenheim currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Citigroup began coverage on shares of Roivant Sciences in a report on Tuesday, September 2nd. They issued a "buy" rating and a $16.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Roivant Sciences from $16.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday. Leerink Partners upped their target price on shares of Roivant Sciences from $18.00 to $22.00 and gave the stock an "outperform" rating in a research report on Thursday. HC Wainwright upped their price target on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, The Goldman Sachs Group raised shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 price target for the company in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Roivant Sciences presently has a consensus rating of "Buy" and a consensus price target of $19.94.

Roivant Sciences Stock Down 0.7%

ROIV traded down $0.11 during trading on Thursday, hitting $14.93. 4,066,597 shares of the company traded hands, compared to its average volume of 6,098,413. The firm has a market cap of $10.20 billion, a P/E ratio of -21.33 and a beta of 1.15. The stock's fifty day moving average is $12.22 and its 200 day moving average is $11.29. Roivant Sciences has a one year low of $8.73 and a one year high of $16.05.

Insider Buying and Selling at Roivant Sciences

In other news, CEO Eric Venker sold 100,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $11.72, for a total transaction of $1,172,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,653,585 shares in the company, valued at approximately $19,380,016.20. This represents a 5.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 385,816 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $12.96, for a total value of $5,000,175.36. Following the transaction, the insider directly owned 35,508,359 shares in the company, valued at approximately $460,188,332.64. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,975,749 shares of company stock worth $24,780,210 in the last three months. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roivant Sciences

Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after buying an additional 1,108 shares during the period. CWM LLC lifted its stake in Roivant Sciences by 44.6% during the second quarter. CWM LLC now owns 2,984 shares of the company's stock worth $34,000 after purchasing an additional 920 shares during the last quarter. UMB Bank n.a. increased its position in Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after buying an additional 2,195 shares during the period. Russell Investments Group Ltd. increased its position in Roivant Sciences by 94.8% during the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock worth $46,000 after buying an additional 2,233 shares during the period. Finally, Fifth Third Bancorp increased its position in Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after buying an additional 1,905 shares during the period. Institutional investors and hedge funds own 64.76% of the company's stock.

About Roivant Sciences

Roivant Sciences Ltd., a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for inflammation and immunology areas. The company provides Vants, a model to develop and commercialize its medicines and technologies focusing on biopharmaceutical businesses, discovery-stage companies, and health technology startups.