Roivant Sciences (NASDAQ:ROIV) Sets New 52-Week High - What's Next?

Key Points

• Roivant Sciences hit a new 52-week high, trading as high as $34.68 amid strong recent momentum in the stock.
• Wall Street sentiment remains constructive: multiple firms raised price targets, and the stock carries a Moderate Buy consensus with a $33.59 average target price.
• The company recently reported quarterly EPS of $0.28, beating expectations, while insiders have sold shares in recent months, including a 200,000-share sale by CEO Eric Venker.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $34.68 and last traded at $34.46, with a volume of 1666904 shares traded. The stock had previously closed at $34.07.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ROIV. Leerink Partners set a $42.00 target price on Roivant Sciences in a report on Thursday, May 21st. Citigroup increased their price objective on shares of Roivant Sciences from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Sanford C. Bernstein started coverage on shares of Roivant Sciences in a research note on Friday, March 20th. They set an "outperform" rating and a $35.00 price objective on the stock. TD Cowen boosted their target price on shares of Roivant Sciences from $38.00 to $41.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Finally, Guggenheim lifted their price target on shares of Roivant Sciences from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.59.

Roivant Sciences Stock Performance

The company has a market capitalization of $24.72 billion, a PE ratio of -57.46 and a beta of 1.13. The company has a 50 day moving average price of $29.66 and a 200 day moving average price of $26.81.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.57. The business had revenue of $2.52 million during the quarter, compared to analyst estimates of $3.41 million. Roivant Sciences had a negative net margin of 3,629.19% and a negative return on equity of 20.54%. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. On average, equities analysts forecast that Roivant Sciences Ltd. will post -1.83 earnings per share for the current fiscal year.

Insider Transactions at Roivant Sciences

In other news, CEO Eric Venker sold 200,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $33.16, for a total transaction of $6,632,000.00. Following the transaction, the chief executive officer owned 1,613,063 shares of the company's stock, valued at approximately $53,489,169.08. This trade represents a 11.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Humes sold 13,538 shares of Roivant Sciences stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $28.37, for a total value of $384,073.06. Following the completion of the transaction, the chief accounting officer owned 84,191 shares of the company's stock, valued at $2,388,498.67. This trade represents a 13.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 903,312 shares of company stock valued at $27,437,883. Insiders own 10.80% of the company's stock.

Institutional Trading of Roivant Sciences

Several institutional investors and hedge funds have recently bought and sold shares of ROIV. SBI Securities Co. Ltd. grew its position in shares of Roivant Sciences by 1,740.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company's stock worth $27,000 after acquiring an additional 1,166 shares in the last quarter. Allworth Financial LP lifted its stake in Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company's stock worth $27,000 after purchasing an additional 583 shares during the last quarter. Parallel Advisors LLC lifted its stake in Roivant Sciences by 33.7% during the first quarter. Parallel Advisors LLC now owns 2,065 shares of the company's stock worth $57,000 after purchasing an additional 520 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Roivant Sciences in the fourth quarter worth $47,000. Finally, Bessemer Group Inc. increased its stake in Roivant Sciences by 21.8% during the first quarter. Bessemer Group Inc. now owns 2,465 shares of the company's stock valued at $69,000 after purchasing an additional 441 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women's health.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.