Brokerages Set Roivant Sciences Ltd. (NASDAQ:ROIV) PT at $22.56

Roivant Sciences Ltd. (NASDAQ:ROIV) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.3125.

A number of research firms have weighed in on ROIV. Wall Street Zen raised Roivant Sciences from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 16th. Leerink Partners restated an “outperform” rating and issued a $29.00 price target on shares of Roivant Sciences in a research note on Tuesday, November 11th. Citigroup upped their target price on Roivant Sciences from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Guggenheim reissued a “buy” rating and set a $25.00 price target on shares of Roivant Sciences in a report on Friday, November 14th. Finally, HC Wainwright raised their target price on shares of Roivant Sciences from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday.

Insider Activity

In related news, CEO Eric Venker sold 683,818 shares of Roivant Sciences stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $14.95, for a total transaction of $10,223,079.10. Following the transaction, the chief executive officer owned 1,969,767 shares of the company’s stock, valued at $29,448,016.65. The trade was a 25.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Vivek Ramaswamy sold 1,027,670 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $20.33, for a total value of $20,892,531.10. Following the transaction, the insider owned 34,193,406 shares in the company, valued at approximately $695,151,943.98. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,907,812 shares of company stock valued at $125,271,540 in the last ninety days. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROIV. Perceptive Advisors LLC purchased a new stake in Roivant Sciences in the 2nd quarter valued at about $37,546,000. Nuveen LLC bought a new stake in Roivant Sciences during the first quarter worth $31,988,000. Marshall Wace LLP grew its stake in Roivant Sciences by 316.5% in the 3rd quarter. Marshall Wace LLP now owns 3,978,001 shares of the company’s stock valued at $60,187,000 after purchasing an additional 3,022,851 shares during the period. Orbimed Advisors LLC purchased a new position in shares of Roivant Sciences in the 2nd quarter worth about $31,324,000. Finally, Rubric Capital Management LP grew its position in Roivant Sciences by 14.7% during the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company’s stock valued at $229,574,000 after buying an additional 2,603,260 shares during the period. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Roivant Sciences Price Performance

Roivant Sciences stock opened at $22.10 on Thursday. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $22.45. The company’s 50 day simple moving average is $19.38 and its 200 day simple moving average is $14.70. The firm has a market capitalization of $15.37 billion, a price-to-earnings ratio of -39.46 and a beta of 1.22.

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.