Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) saw an uptick in trading volume on Wednesday after The Goldman Sachs Group raised their price target on the stock from $16.00 to $18.00. The Goldman Sachs Group currently has a buy rating on the stock. 13,655,865 shares changed hands during mid-day trading, an increase of 93% from the previous session's volume of 7,079,629 shares.The stock last traded at $11.36 and had previously closed at $10.92.
A number of other equities research analysts also recently commented on the stock. Piper Sandler started coverage on shares of Roivant Sciences in a research report on Friday, January 5th. They issued an "overweight" rating and a $20.00 target price for the company. Truist Financial reaffirmed a "buy" rating and issued a $23.00 price objective on shares of Roivant Sciences in a report on Monday, March 25th. TheStreet raised Roivant Sciences from a "d" rating to a "c+" rating in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Roivant Sciences from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Wolfe Research started coverage on shares of Roivant Sciences in a research note on Thursday, February 15th. They issued an "outperform" rating and a $17.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.90.
View Our Latest Report on Roivant Sciences
Insiders Place Their Bets
In other Roivant Sciences news, COO Eric Venker sold 96,950 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were 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 directly owns 532,207 shares in the company, valued at $5,811,700.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.60% of the stock is owned by company insiders.
Hedge Funds Weigh In On Roivant Sciences
Several large investors have recently made changes to their positions in ROIV. Rubric Capital Management LP raised its stake in 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 purchasing an additional 8,500,000 shares during the period. Morgan Stanley raised its position in shares of Roivant Sciences by 48.7% during the third quarter. Morgan Stanley now owns 19,311,631 shares of the company's stock valued at $225,560,000 after buying an additional 6,324,915 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Roivant Sciences by 99.5% in the second quarter. BlackRock Inc. now owns 12,372,873 shares of the company's stock worth $124,719,000 after buying an additional 6,170,264 shares in the last quarter. State Street Corp boosted its holdings in shares of Roivant Sciences by 129.1% during the 1st quarter. State Street Corp now owns 8,032,952 shares of the company's stock valued at $59,283,000 after purchasing an additional 4,525,910 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Roivant Sciences in the fourth quarter worth about $41,506,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.
Roivant Sciences Price Performance
The company has a debt-to-equity ratio of 0.06, a quick ratio of 27.79 and a current ratio of 27.79. The firm has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $10.35. The firm has a market cap of $9.28 billion, a PE ratio of 2.09 and a beta of 1.34.
Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.07. The firm had revenue of $37.14 million during the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. Equities analysts predict that Roivant Sciences Ltd. will post -1.36 EPS for the current fiscal year.
Roivant Sciences Company Profile
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Get Free Report)
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.
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