Roivant Sciences (NASDAQ:ROIV) Price Target Raised to $20.00 at HC Wainwright

Key Points

• HC Wainwright has increased its price target for Roivant Sciences (NASDAQ: ROIV) from $18.00 to $20.00, indicating a potential upside of 30.89% from its current stock price.
• Multiple analysts have given Roivant Sciences strong ratings, with Goldman Sachs upgrading it to "strong-buy" with a $19.00 target, while the average target across various analysts stands at $18.33.
• Insider trading activity includes significant sales by major shareholder Vivek Ramaswamy and CEO Eric Venker, indicating a decline in their ownership percentages, which may raise questions about their confidence in the stock.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) had its target price lifted by research analysts at HC Wainwright from $18.00 to $20.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's target price would indicate a potential upside of 34.00% from the company's current price.

Several other equities analysts have also recently commented on the stock. The Goldman Sachs Group upgraded shares of Roivant Sciences to a "strong-buy" rating and set a $19.00 target price for the company in a research report on Thursday, July 10th. Citigroup assumed coverage on shares of Roivant Sciences in a research note on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Roivant Sciences presently has a consensus rating of "Buy" and an average target price of $19.94.

Roivant Sciences Stock Down 0.8%

NASDAQ ROIV traded down $0.12 during midday trading on Thursday, hitting $14.93. The company had a trading volume of 3,915,986 shares, compared to its average volume of 6,097,743. The firm has a fifty day simple moving average of $12.22 and a two-hundred day simple moving average of $11.29. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of -21.28 and a beta of 1.15. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $16.05.

Insiders Place Their Bets

In related news, major shareholder Vivek Ramaswamy sold 385,816 shares of the business's stock in a transaction that occurred on 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric Venker sold 100,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,653,585 shares in the company, valued at $19,380,016.20. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,975,749 shares of company stock worth $24,780,210. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi lifted its position in Roivant Sciences by 18.1% during the first quarter. Amundi now owns 398,729 shares of the company's stock valued at $3,991,000 after purchasing an additional 61,214 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Roivant Sciences by 16.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,000,181 shares of the company's stock worth $40,362,000 after buying an additional 560,641 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Roivant Sciences by 83.0% in the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after purchasing an additional 2,945 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Roivant Sciences during the 1st quarter worth approximately $303,000. Finally, Peak Financial Advisors LLC purchased a new stake in Roivant Sciences during the 2nd quarter worth approximately $472,000. Hedge funds and other institutional investors own 64.76% of the company's stock.

Roivant Sciences Company Profile

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.