Brokerages Set Roivant Sciences Ltd. (NASDAQ:ROIV) Target Price at $16.90

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $16.90.

ROIV has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Monday, April 22nd. Truist Financial reaffirmed a "buy" rating and set a $23.00 price target on shares of Roivant Sciences in a research note on Monday, March 25th. The Goldman Sachs Group increased their price target on shares of Roivant Sciences from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Roivant Sciences from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Finally, TheStreet raised shares of Roivant Sciences from a "d" rating to a "c+" rating in a research note on Tuesday, February 13th.

Roivant Sciences Trading Down 3.1 %

Shares of ROIV traded down $0.35 on Thursday, hitting $10.94. 5,585,350 shares of the stock traded hands, compared to its average volume of 6,173,310. The company has a quick ratio of 27.79, a current ratio of 27.79 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.82 billion, a P/E ratio of 2.10 and a beta of 1.30. Roivant Sciences has a 1 year low of $8.24 and a 1 year high of $13.24. The stock's 50 day moving average is $10.90 and its two-hundred day moving average is $10.62.

Institutional Investors Weigh In On Roivant Sciences

A number of large investors have recently added to or reduced their stakes in ROIV. Citigroup Inc. grew its holdings in Roivant Sciences by 45.6% during the 3rd quarter. Citigroup Inc. now owns 326,431 shares of the company's stock worth $3,813,000 after acquiring an additional 102,279 shares in the last quarter. Morgan Stanley grew its holdings in Roivant Sciences by 48.7% during the 3rd quarter. Morgan Stanley now owns 19,311,631 shares of the company's stock worth $225,560,000 after acquiring an additional 6,324,915 shares in the last quarter. Deerfield Management Company L.P. Series C grew its holdings in Roivant Sciences by 18.4% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 1,604,487 shares of the company's stock worth $18,740,000 after acquiring an additional 249,513 shares in the last quarter. First Turn Management LLC acquired a new position in Roivant Sciences during the 4th quarter worth $15,312,000. Finally, Assenagon Asset Management S.A. acquired a new position in Roivant Sciences during the 3rd quarter worth $4,200,000. 64.76% of the stock is owned by institutional investors and hedge funds.

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.