Roivant Sciences (NASDAQ:ROIV) Sees Large Volume Increase Following Analyst Upgrade

Roivant Sciences Ltd. (NASDAQ:ROIVGet Free Report) saw unusually-high trading volume on Wednesday after The Goldman Sachs Group raised their price target on the stock from $16.00 to $18.00. The Goldman Sachs Group currently has a buy rating on the stock. Approximately 13,655,865 shares changed hands during mid-day trading, an increase of 93% from the previous session’s volume of 7,079,629 shares.The stock last traded at $11.36 and had previously closed at $10.92.

ROIV has been the topic of several other research reports. HC Wainwright boosted their target price on Roivant Sciences from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler assumed coverage on Roivant Sciences in a research report on Friday, January 5th. They set an “overweight” rating and a $20.00 price target on the stock. TheStreet raised Roivant Sciences from a “d” rating to a “c+” rating in a research report on Tuesday, February 13th. Bank of America increased their price target on Roivant Sciences from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 2nd. Finally, Wolfe Research initiated coverage on Roivant Sciences in a research report on Thursday, February 15th. They set an “outperform” rating and a $17.00 price objective on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.90.

View Our Latest Stock Report on ROIV

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 96,950 shares of Roivant Sciences stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.92, for a total transaction of $1,058,694.00. Following the completion of the sale, the chief operating officer now directly owns 532,207 shares of the company’s stock, valued at approximately $5,811,700.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dagco Inc. acquired a new stake in Roivant Sciences during the 4th quarter worth $27,000. Citigroup Inc. increased its stake in shares of Roivant Sciences by 1,803.6% during the first quarter. Citigroup Inc. now owns 5,749 shares of the company’s stock worth $28,000 after acquiring an additional 5,447 shares during the period. Royal Bank of Canada increased its stake in shares of Roivant Sciences by 60,550.0% during the first quarter. Royal Bank of Canada now owns 6,065 shares of the company’s stock worth $30,000 after acquiring an additional 6,055 shares during the period. FNY Investment Advisers LLC purchased a new stake in Roivant Sciences during the fourth quarter worth about $33,000. Finally, Headlands Technologies LLC purchased a new stake in Roivant Sciences during the fourth quarter worth about $36,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Trading Up 3.8 %

The stock has a market cap of $9.13 billion, a PE ratio of 2.09 and a beta of 1.34. The business’s fifty day moving average is $10.75 and its 200 day moving average is $10.35. The company has a quick ratio of 27.79, a current ratio of 27.79 and a debt-to-equity ratio of 0.06.

Roivant Sciences (NASDAQ:ROIVGet Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.07. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. The company had revenue of $37.14 million for the quarter, compared to the consensus estimate of $30.72 million. As a group, analysts predict that Roivant Sciences Ltd. will post -1.36 earnings per share for the current year.

About Roivant Sciences

(Get Free Report)

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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