Roivant Sciences Ltd. (NASDAQ:ROIV) Stock Has Average Target Price of $46.55 According to Brokerages

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $46.55.

A number of equities research analysts have commented on ROIV shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th. Sanford C. Bernstein raised Roivant Sciences to a “strong-buy” rating in a report on Wednesday, July 29th. Stifel Nicolaus began coverage on Roivant Sciences in a research note on Wednesday, September 16th. They set a “buy” rating and a $51.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. Finally, Bank of America reaffirmed a “neutral” rating on shares of Roivant Sciences in a research report on Friday, July 31st.

Insider Buying and Selling

In other Roivant Sciences news, Director Melissa B. Epperly sold 17,750 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $36.10, for a total transaction of $640,775.00. Following the completion of the sale, the director directly owned 14,954 shares of the company’s stock, valued at approximately $539,839.40. This represents a 54.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $35.11, for a total transaction of $7,022,000.00. Following the completion of the transaction, the chief executive officer owned 1,399,154 shares in the company, valued at $49,124,296.94. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,822,688 shares of company stock valued at $66,176,636. 8.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ethic Inc. grew its stake in shares of Roivant Sciences by 36.9% during the 3rd quarter. Ethic Inc. now owns 18,226 shares of the company’s stock valued at $667,000 after acquiring an additional 4,914 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Roivant Sciences by 20.3% during the third quarter. Pictet Asset Management Holding SA now owns 4,173,123 shares of the company’s stock valued at $152,597,000 after purchasing an additional 704,783 shares in the last quarter. AlphaCentric Advisors LLC lifted its holdings in Roivant Sciences by 4.5% during the third quarter. AlphaCentric Advisors LLC now owns 50,535 shares of the company’s stock valued at $1,848,000 after purchasing an additional 2,180 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Roivant Sciences by 73.1% in the third quarter. Commonwealth Equity Services LLC now owns 17,515 shares of the company’s stock valued at $641,000 after acquiring an additional 7,398 shares in the last quarter. Finally, Compass Financial Management LLC bought a new position in Roivant Sciences in the 3rd quarter worth approximately $37,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Roivant Sciences Stock Performance

ROIV stock opened at $36.04 on Friday. Roivant Sciences has a 1-year low of $19.32 and a 1-year high of $42.50. The business has a fifty day moving average price of $36.63 and a 200-day moving average price of $31.58.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. The business had revenue of $1.44 million for the quarter, compared to analysts’ expectations of $2.06 million. On average, equities analysts predict that Roivant Sciences will post -2.00 EPS for the current fiscal year.

About Roivant Sciences

Roivant Sciences Ltd. (NASDAQ: ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.

Roivant’s research and development activities have included immunology, dermatology, women’s health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.