Roivant Sciences (NASDAQ:ROIV) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald assumed coverage on shares of Roivant Sciences (NASDAQ:ROIV – Get Rating) in a report released on Friday, The Fly reports. The firm set an “overweight” rating on the stock.

Separately, Zacks Investment Research cut shares of Roivant Sciences from a “hold” rating to a “sell” rating in a research report on Friday, February 18th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $12.67.

Shares of ROIV opened at $3.86 on Friday. The firm’s fifty day simple moving average is $4.95 and its two-hundred day simple moving average is $7.33. Roivant Sciences has a 12 month low of $3.63 and a 12 month high of $16.76.

Roivant Sciences (NASDAQ:ROIV – Get Rating) last issued its quarterly earnings results on Monday, February 14th. The company reported ($0.41) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.18). The business had revenue of $24.34 million for the quarter, compared to analyst estimates of $10.13 million. As a group, sell-side analysts predict that Roivant Sciences will post -1.29 EPS for the current year.

In related news, CAO Rakhi Kumar sold 7,281 shares of the firm’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $5.06, for a total value of $36,841.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Pharma Technologies Ltd Dexcel purchased 31,685 shares of the company’s stock in a transaction that occurred on Friday, April 22nd. The stock was acquired at an average cost of $3.83 per share, for a total transaction of $121,353.55. Following the transaction, the insider now owns 98,840,843 shares in the company, valued at approximately $378,560,428.69. The disclosure for this purchase can be found here. Insiders have sold a total of 372,113 shares of company stock worth $1,902,993 in the last three months.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Susquehanna International Group LLP bought a new position in Roivant Sciences in the 4th quarter valued at about $108,000. InterOcean Capital Group LLC purchased a new stake in Roivant Sciences in the 4th quarter valued at about $121,000. Virtus ETF Advisers LLC purchased a new stake in Roivant Sciences in the 4th quarter valued at about $198,000. Virtu Financial LLC purchased a new stake in Roivant Sciences in the 4th quarter valued at about $203,000. Finally, Exos Asset Management LLC purchased a new stake in Roivant Sciences in the 4th quarter valued at about $210,000. 16.63% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Company Profile (Get Rating)

Roivant Sciences Ltd., a biopharmaceutical and healthcare technology company that researches and develops medicines. The company develops product candidates for the treatment of various therapeutics, including solid tumors, sickle cell diseases, hypophosphatasia, oncologic malignancies, psoriasis, atopic dermatitis, vitiligo, hyperhidrosis, acne, myasthenia gravis, warm autoimmune hemolytic anemia, thyroid eye diseases, sarcoidosis, and staph aureus bacteremia.

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