Roivant Sciences (NASDAQ:ROIV) Given New $20.00 Price Target at JPMorgan Chase & Co.

Roivant Sciences (NASDAQ:ROIV) had its price objective upped by JPMorgan Chase & Co. from $16.00 to $20.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. HC Wainwright raised their price target on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America raised their price target on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a research report on Thursday. Citigroup initiated coverage on shares of Roivant Sciences in a research report on Tuesday, September 2nd. They set a “buy” rating and a $16.00 price target for the company. The Goldman Sachs Group raised shares of Roivant Sciences to a “strong-buy” rating and set a $19.00 price target for the company in a research report on Thursday, July 10th. Finally, Leerink Partners raised their target price on shares of Roivant Sciences from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.94.

Roivant Sciences Stock Performance

ROIV stock opened at $15.09 on Thursday. The company has a market capitalization of $10.30 billion, a P/E ratio of -21.56 and a beta of 1.15. Roivant Sciences has a 52-week low of $8.73 and a 52-week high of $16.05. The business has a 50-day simple moving average of $12.14 and a two-hundred day simple moving average of $11.25.

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, CEO Matthew Gline purchased 3,315 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were acquired at an average price of $15.07 per share, for a total transaction of $49,957.05. Following the purchase, the chief executive officer directly owned 17,287,081 shares of the company’s stock, valued at $260,516,310.67. The trade was a 0.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of Roivant Sciences stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total transaction of $14,937,500.00. Following the transaction, the insider owned 36,089,108 shares in the company, valued at $451,113,850. This represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,975,749 shares of company stock worth $24,780,210 in the last 90 days. 10.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ROIV. Perceptive Advisors LLC purchased a new position in shares of Roivant Sciences during the 2nd quarter worth $37,546,000. Nuveen LLC purchased a new position in shares of Roivant Sciences during the 1st quarter worth $31,988,000. Orbimed Advisors LLC bought a new stake in shares of Roivant Sciences during the 2nd quarter valued at $31,324,000. Rubric Capital Management LP raised its position in shares of Roivant Sciences by 14.7% during the 2nd quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company’s stock valued at $229,574,000 after purchasing an additional 2,603,260 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Roivant Sciences by 2,580.0% during the 2nd quarter. Squarepoint Ops LLC now owns 2,211,675 shares of the company’s stock valued at $24,926,000 after purchasing an additional 2,129,150 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.