HC Wainwright Reiterates "Buy" Rating for Roivant Sciences (NASDAQ:ROIV)

Roivant Sciences (NASDAQ:ROIV - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They presently have a $18.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 69.81% from the company's current price.

ROIV has been the topic of a number of other research reports. TheStreet upgraded shares of Roivant Sciences from a "d" rating to a "c+" rating in a report on Tuesday, February 13th. Bank of America upped their price target on shares of Roivant Sciences from $11.00 to $12.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 2nd. Truist Financial reiterated a "buy" rating and issued a $23.00 price target on shares of Roivant Sciences in a research note on Monday, March 25th. Wolfe Research initiated coverage on shares of Roivant Sciences in a research note on Thursday, February 15th. They issued an "outperform" rating and a $17.00 price target on the stock. Finally, The Goldman Sachs Group upped 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $16.90.

Roivant Sciences Price Performance

ROIV traded up $0.14 on Monday, reaching $10.60. The company had a trading volume of 5,323,941 shares, compared to its average volume of 6,890,117. The business has a 50 day simple moving average of $10.95 and a 200 day simple moving average of $10.36. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 2.08 and a beta of 1.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 27.79 and a current ratio of 27.79. Roivant Sciences has a 52-week low of $8.06 and a 52-week high of $13.24.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.07. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. The firm had revenue of $37.14 million for the quarter, compared to the consensus estimate of $30.72 million. As a group, sell-side analysts anticipate that Roivant Sciences will post -1.36 EPS for the current year.

Insiders Place Their Bets

In other Roivant Sciences news, COO Eric Venker sold 96,950 shares of the business's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $10.92, for a total value of $1,058,694.00. Following the completion of the transaction, the chief operating officer now owns 532,207 shares of the company's stock, valued at approximately $5,811,700.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Roivant Sciences by 8.1% during the 3rd quarter. FMR LLC now owns 38,910,625 shares of the company's stock valued at $454,476,000 after purchasing an additional 2,913,491 shares during the last quarter. Morgan Stanley grew its stake in shares of Roivant Sciences by 48.7% during the 3rd quarter. Morgan Stanley now owns 19,311,631 shares of the company's stock valued at $225,560,000 after acquiring an additional 6,324,915 shares during the period. Rubric Capital Management LP grew its stake in shares of Roivant Sciences by 81.0% during the 4th quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company's stock valued at $213,370,000 after acquiring an additional 8,500,000 shares during the period. Vanguard Group Inc. grew its stake in shares of Roivant Sciences by 159.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,602,566 shares of the company's stock valued at $65,438,000 after acquiring an additional 3,440,374 shares during the period. Finally, Norges Bank bought a new position in shares of Roivant Sciences during the 4th quarter valued at approximately $41,506,000. 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.