Brokerages Set Roivant Sciences Ltd. (NASDAQ:ROIV) Price Target at $19.94

Roivant Sciences Ltd. (NASDAQ:ROIV) has been assigned an average recommendation of “Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $19.9375.

A number of equities research analysts have recently issued reports on ROIV shares. Bank of America boosted their target price on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a research report on Thursday, September 18th. The Goldman Sachs Group boosted their price objective on shares of Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Guggenheim increased their target price on shares of Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Jefferies Financial Group raised their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Finally, Leerink Partners boosted their price target on Roivant Sciences from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $15.10 on Friday. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of -21.57 and a beta of 1.15. The stock’s fifty day moving average price is $12.63 and its two-hundred day moving average price is $11.47. Roivant Sciences has a one year low of $8.73 and a one year high of $16.05.

Insider Activity

In related news, CEO Matthew Gline purchased 3,315 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was acquired at an average price of $15.07 per share, with a total value of $49,957.05. Following the completion of the purchase, the chief executive officer directly owned 17,287,081 shares in the company, valued at $260,516,310.67. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vivek Ramaswamy sold 385,816 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $12.96, for a total transaction of $5,000,175.36. Following the sale, the insider owned 35,508,359 shares in the company, valued at $460,188,332.64. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,686,749 shares of company stock worth $50,302,987. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roivant Sciences

A number of institutional investors have recently modified their holdings of the business. Perceptive Advisors LLC acquired a new stake in Roivant Sciences in the second quarter valued at about $37,546,000. Nuveen LLC bought a new position in shares of Roivant Sciences in the first quarter worth about $31,988,000. Orbimed Advisors LLC bought a new position in shares of Roivant Sciences in the second quarter worth about $31,324,000. Rubric Capital Management LP boosted its stake in shares of Roivant Sciences by 14.7% in 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 in the last quarter. Finally, Squarepoint Ops LLC grew its holdings 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 last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

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.