Roivant Sciences Ltd. (NASDAQ:ROIV – Get Rating) – Analysts at Jefferies Financial Group decreased their Q3 2023 earnings estimates for shares of Roivant Sciences in a research note issued to investors on Tuesday, November 15th. Jefferies Financial Group analyst D. Ding now forecasts that the company will post earnings of ($0.32) per share for the quarter, down from their prior estimate of ($0.29). The consensus estimate for Roivant Sciences’ current full-year earnings is ($1.75) per share. Jefferies Financial Group also issued estimates for Roivant Sciences’ Q4 2023 earnings at ($0.33) EPS, Q1 2024 earnings at ($0.33) EPS, Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.33) EPS and FY2024 earnings at ($1.32) EPS.
A number of other equities research analysts have also issued reports on the company. Citigroup raised their price target on Roivant Sciences from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday. SVB Leerink boosted their target price on shares of Roivant Sciences from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Roivant Sciences in a research note on Thursday, October 27th. They issued an “overweight” rating and a $7.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Roivant Sciences currently has an average rating of “Buy” and a consensus target price of $11.17.
Roivant Sciences Stock Down 5.1 %
Institutional Trading of Roivant Sciences
Several hedge funds have recently modified their holdings of the company. Two Seas Capital LP raised its stake in Roivant Sciences by 323.8% in the second quarter. Two Seas Capital LP now owns 3,419,836 shares of the company’s stock valued at $13,919,000 after buying an additional 2,612,929 shares during the last quarter. American International Group Inc. acquired a new position in shares of Roivant Sciences during the first quarter valued at about $8,965,000. Balyasny Asset Management LLC raised its position in shares of Roivant Sciences by 456.2% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,753,210 shares of the company’s stock valued at $5,645,000 after purchasing an additional 1,437,970 shares during the last quarter. Eventide Asset Management LLC boosted its stake in Roivant Sciences by 141.5% in the 1st quarter. Eventide Asset Management LLC now owns 1,690,300 shares of the company’s stock worth $8,177,000 after purchasing an additional 990,300 shares in the last quarter. Finally, Chicago Capital LLC purchased a new stake in Roivant Sciences during the 2nd quarter worth approximately $3,818,000. 51.44% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Roivant Sciences
In other Roivant Sciences news, major shareholder Pharma Technologies Ltd Dexcel acquired 4,000,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was bought at an average cost of $5.00 per share, with a total value of $20,000,000.00. Following the completion of the purchase, the insider now directly owns 102,849,443 shares in the company, valued at $514,247,215. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Sciences Ltd. Roivant purchased 416,667 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $2,500,002.00. Following the acquisition, the insider now owns 73,805,331 shares of the company’s stock, valued at approximately $442,831,986. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Pharma Technologies Ltd Dexcel purchased 4,000,000 shares of Roivant Sciences stock in a transaction dated Thursday, November 10th. The stock was bought at an average cost of $5.00 per share, with a total value of $20,000,000.00. Following the completion of the transaction, the insider now owns 102,849,443 shares in the company, valued at approximately $514,247,215. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 5,771,244 shares of company stock valued at $27,293,303. 13.00% of the stock is currently owned by corporate insiders.
Roivant Sciences Company Profile
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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