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

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $18.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 50.75% from the company’s previous close.

Other analysts have also issued research reports about the company. Bank of America upped their price objective on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.39.

Roivant Sciences Trading Up 2.6 %

ROIV stock traded up $0.30 during trading on Wednesday, reaching $11.94. 6,792,603 shares of the stock traded hands, compared to its average volume of 5,821,580. The firm has a market capitalization of $8.83 billion, a PE ratio of 2.12 and a beta of 1.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. Roivant Sciences has a 52-week low of $8.56 and a 52-week high of $13.06. The business’s 50 day moving average price is $11.78 and its 200-day moving average price is $11.31.

Roivant Sciences (NASDAQ:ROIV) last released its earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.10). The business had revenue of $4.48 million for the quarter, compared to analysts’ expectations of $34.57 million. Roivant Sciences had a net margin of 3,827.42% and a negative return on equity of 14.65%. As a group, sell-side analysts forecast that Roivant Sciences will post -1.14 earnings per share for the current year.

Insider Buying and Selling at Roivant Sciences

In other news, CEO Matthew Gline sold 1,983,257 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the completion of the sale, the chief executive officer now directly owns 17,870,543 shares in the company, valued at $210,693,701.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Matthew Gline sold 1,983,257 shares of Roivant Sciences stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the completion of the sale, the chief executive officer now owns 17,870,543 shares of the company’s stock, valued at approximately $210,693,701.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rakhi Kumar sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now directly owns 209,322 shares of the company’s stock, valued at $2,488,838.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,577,309 shares of company stock worth $42,151,184. 7.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Roivant Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Roivant Sciences by 5.6% in the third quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after purchasing an additional 2,593,910 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Roivant Sciences by 10.8% during the third quarter. The Manufacturers Life Insurance Company now owns 356,600 shares of the company’s stock valued at $4,115,000 after purchasing an additional 34,641 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Roivant Sciences by 13.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,912,205 shares of the company’s stock worth $45,147,000 after acquiring an additional 458,601 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Roivant Sciences by 30.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,767,412 shares of the company’s stock valued at $31,936,000 after purchasing an additional 646,627 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new position in shares of Roivant Sciences during the 3rd quarter worth approximately $5,927,000. 64.76% of the stock is owned by institutional investors.

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.