Roivant Sciences (NASDAQ:ROIV) Earns Buy Rating from Analysts at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group began coverage on shares of Roivant Sciences (NASDAQ:ROIV - Get Free Report) in a note issued to investors on Thursday. The brokerage set a "buy" rating and a $19.00 price target on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 68.69% from the company's current price.

Separately, HC Wainwright reissued a "buy" rating and issued a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Roivant Sciences presently has an average rating of "Buy" and a consensus price target of $17.88.

Roivant Sciences Trading Up 0.4%

Roivant Sciences stock traded up $0.04 during mid-day trading on Thursday, reaching $11.26. The company had a trading volume of 413,103 shares, compared to its average volume of 5,738,778. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $13.06. The company has a market cap of $7.66 billion, a P/E ratio of -45.10 and a beta of 1.15. The business has a fifty day simple moving average of $11.12 and a 200 day simple moving average of $10.87.

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

Insider Transactions at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 577,007 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $11.46, for a total transaction of $6,612,500.22. Following the completion of the transaction, the insider owned 37,284,108 shares in the company, valued at approximately $427,275,877.68. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Eric Venker sold 566,278 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $11.22, for a total value of $6,353,639.16. Following the sale, the chief operating officer directly owned 1,462,223 shares of the company's stock, valued at approximately $16,406,142.06. This represents a 27.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,464,462 shares of company stock worth $39,098,856 over the last 90 days. 7.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in shares of Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after acquiring an additional 1,108 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Roivant Sciences by 478.6% during the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock worth $28,000 after purchasing an additional 1,948 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Roivant Sciences during the fourth quarter worth approximately $39,000. UMB Bank n.a. lifted its position in shares of Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after purchasing an additional 2,195 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after purchasing an additional 1,905 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.