Roivant Sciences (NASDAQ:ROIV) Stock Rating Upgraded by The Goldman Sachs Group

Roivant Sciences (NASDAQ:ROIV - Get Free Report) was upgraded by equities research analysts at The Goldman Sachs Group to a "strong-buy" rating in a report released on Thursday, MarketBeat reports. The brokerage currently has a $19.00 price target on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 67.25% from the company's previous close.

Separately, HC Wainwright reissued a "buy" rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, June 18th.

Roivant Sciences Stock Performance

NASDAQ:ROIV traded down $0.21 during mid-day trading on Thursday, hitting $11.36. The company had a trading volume of 5,078,323 shares, compared to its average volume of 5,758,784. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $13.06. The business's fifty day moving average is $11.11 and its two-hundred day moving average is $10.85. The firm has a market cap of $7.72 billion, a P/E ratio of -45.44 and a beta of 1.15.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. The company had revenue of $7.57 million during the quarter, compared to analyst estimates of $62.17 million. During the same period in the previous year, the company posted ($0.23) EPS. Equities analysts forecast that Roivant Sciences will post -0.92 earnings per share for the current year.

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $11.45, for a total transaction of $1,145,000.00. Following the sale, the chief operating officer owned 1,462,223 shares of the company's stock, valued at $16,742,453.35. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 577,007 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $11.46, for a total value of $6,612,500.22. Following the sale, the insider directly owned 37,284,108 shares in the company, valued at approximately $427,275,877.68. This represents a 1.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,464,462 shares of company stock worth $39,098,856. 7.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in Roivant Sciences by 0.3% in the 4th quarter. FMR LLC now owns 49,301,583 shares of the company's stock valued at $583,238,000 after buying an additional 156,527 shares during the last quarter. Vanguard Group Inc. raised its position in Roivant Sciences by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock valued at $521,553,000 after buying an additional 2,404,232 shares during the last quarter. Patient Square Capital LP raised its position in Roivant Sciences by 2.1% in the 4th quarter. Patient Square Capital LP now owns 12,480,000 shares of the company's stock valued at $147,638,000 after buying an additional 251,535 shares during the last quarter. Two Seas Capital LP raised its position in Roivant Sciences by 4.6% in the 4th quarter. Two Seas Capital LP now owns 10,167,807 shares of the company's stock valued at $120,285,000 after buying an additional 442,914 shares during the last quarter. Finally, Invesco Ltd. raised its position in Roivant Sciences by 3.8% in the 1st quarter. Invesco Ltd. now owns 9,880,526 shares of the company's stock valued at $99,695,000 after buying an additional 365,468 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

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.