Roivant Sciences (NASDAQ:ROIV) Stock Price Expected to Rise, Citigroup Analyst Says

Roivant Sciences (NASDAQ:ROIV) had its price target increased by equities research analysts at Citigroup from $16.00 to $25.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 27.68% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their target price on shares of Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. HC Wainwright increased their price target on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Leerink Partners boosted their price objective on Roivant Sciences from $18.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Guggenheim upped their price objective on Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Finally, Weiss Ratings raised Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.06.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $19.58 on Wednesday. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of -27.97 and a beta of 1.20. Roivant Sciences has a 1-year low of $8.73 and a 1-year high of $19.67. The company’s fifty day moving average is $15.17 and its two-hundred day moving average is $12.57.

Insiders Place Their Bets

In other news, CEO Eric Venker sold 118,418 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $17.06, for a total value of $2,020,211.08. Following the completion of the transaction, the chief executive officer owned 1,504,959 shares of the company’s stock, valued at approximately $25,674,600.54. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 5,228,958 shares of company stock worth $76,447,638. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Roivant Sciences

Several institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP increased its stake in 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 buying an additional 2,603,260 shares during the period. State Street Corp lifted its stake in shares of Roivant Sciences by 4.8% in the 2nd quarter. State Street Corp now owns 19,773,480 shares of the company’s stock worth $222,847,000 after acquiring an additional 911,827 shares during the period. Two Seas Capital LP boosted its holdings in shares of Roivant Sciences by 4.6% in the second quarter. Two Seas Capital LP now owns 10,598,040 shares of the company’s stock valued at $119,440,000 after acquiring an additional 461,733 shares in the last quarter. Invesco Ltd. increased its stake in shares of Roivant Sciences by 3.8% during the first quarter. Invesco Ltd. now owns 9,880,526 shares of the company’s stock valued at $99,695,000 after acquiring an additional 365,468 shares during the period. Finally, BlackBarn Capital Partners LP increased its stake in shares of Roivant Sciences by 15.2% during the first quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company’s stock valued at $47,928,000 after acquiring an additional 625,000 shares during the period. Institutional investors and hedge funds 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.