Roivant Sciences Ltd. (NASDAQ:ROIV) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Roivant Sciences Ltd. (NASDAQ:ROIV) has received a consensus rating of "Buy" from nine analysts, with an average price target of $19.94.
• Major shareholder Vivek Ramaswamy sold 385,816 shares recently, while CEO Eric Venker sold 611,000 shares, indicating significant insider trading activity.
• Institutional investors control 64.76% of Roivant Sciences, with notable new stakes from firms like Perceptive Advisors and Nuveen LLC.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) has been assigned an average recommendation of "Buy" from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $19.9375.

ROIV has been the subject of a number of research analyst reports. HC Wainwright raised their price target on Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. The Goldman Sachs Group raised their price target on Roivant Sciences from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. JPMorgan Chase & Co. raised their price target on Roivant Sciences from $16.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. Guggenheim boosted their target price on Roivant Sciences from $15.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Finally, Bank of America lifted their price target on Roivant Sciences from $12.00 to $16.50 and gave the stock a "neutral" rating in a research report on Thursday, September 18th.

Insiders Place Their Bets

In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 385,816 shares of Roivant Sciences stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $12.96, for a total transaction of $5,000,175.36. Following the completion of the sale, the insider owned 35,508,359 shares of the company's stock, valued at approximately $460,188,332.64. The trade was a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric Venker sold 611,000 shares of Roivant Sciences stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $14.83, for a total value of $9,061,130.00. Following the sale, the chief executive officer directly owned 1,504,959 shares of the company's stock, valued at approximately $22,318,541.97. This represents a 28.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,686,749 shares of company stock valued at $50,302,987. 10.80% of the stock is owned by company insiders.

Institutional Trading of Roivant Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perceptive Advisors LLC purchased a new stake in shares of Roivant Sciences in the second quarter worth about $37,546,000. Nuveen LLC acquired a new position in Roivant Sciences in the first quarter valued at approximately $31,988,000. Orbimed Advisors LLC acquired a new position in Roivant Sciences in the second quarter valued at approximately $31,324,000. Rubric Capital Management LP lifted its holdings in Roivant Sciences by 14.7% in the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company's stock valued at $229,574,000 after acquiring an additional 2,603,260 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in Roivant Sciences by 2,580.0% in the second quarter. Squarepoint Ops LLC now owns 2,211,675 shares of the company's stock valued at $24,926,000 after acquiring an additional 2,129,150 shares during the period. Institutional investors and hedge funds own 64.76% of the company's stock.

Roivant Sciences Stock Performance

Shares of ROIV stock opened at $15.17 on Friday. Roivant Sciences has a 52-week low of $8.73 and a 52-week high of $16.05. The firm has a market capitalization of $10.36 billion, a P/E ratio of -21.67 and a beta of 1.15. The stock has a 50 day moving average price of $12.55 and a 200 day moving average price of $11.43.

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.

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