Roivant Sciences (NASDAQ:ROIV) Earns Buy Rating from HC Wainwright

Roivant Sciences (NASDAQ:ROIV - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $18.00 target price on the stock. HC Wainwright's target price suggests a potential upside of 63.49% from the stock's previous close.

Separately, Cantor Fitzgerald raised Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th.

Roivant Sciences Price Performance

Shares of ROIV traded up $0.01 during mid-day trading on Monday, reaching $11.01. The stock had a trading volume of 8,016,575 shares, compared to its average volume of 5,462,047. Roivant Sciences has a 52-week low of $8.73 and a 52-week high of $13.06. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of -73.40 and a beta of 1.25. The business's fifty day moving average is $10.34 and its 200 day moving average is $11.15.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. As a group, sell-side analysts anticipate that Roivant Sciences will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $10.65, for a total value of $1,065,000.00. Following the transaction, the chief operating officer now owns 896,869 shares in the company, valued at approximately $9,551,654.85. This trade represents a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rakhi Kumar sold 227,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $10.43, for a total value of $2,372,825.00. Following the sale, the chief accounting officer now owns 163,264 shares in the company, valued at approximately $1,702,843.52. The trade was a 58.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,395,541 shares of company stock valued at $14,922,538 over the last quarter. Company insiders own 7.90% of the company's stock.

Institutional Investors Weigh In On Roivant Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in Roivant Sciences by 0.3% in the fourth quarter. FMR LLC now owns 49,301,583 shares of the company's stock valued at $583,238,000 after acquiring an additional 156,527 shares during the period. Vanguard Group Inc. grew its stake in Roivant Sciences by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock worth $521,553,000 after buying an additional 2,404,232 shares during the last quarter. Patient Square Capital LP increased its position in Roivant Sciences by 2.1% in the fourth quarter. Patient Square Capital LP now owns 12,480,000 shares of the company's stock worth $147,638,000 after buying an additional 251,535 shares during the period. Two Seas Capital LP lifted its stake in Roivant Sciences by 4.6% in the fourth 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. boosted its holdings in shares of Roivant Sciences by 49.7% during the fourth quarter. Invesco Ltd. now owns 9,515,058 shares of the company's stock valued at $112,563,000 after acquiring an additional 3,159,603 shares during the period. 64.76% of the stock is owned by institutional investors and hedge funds.

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.