Analysts Set Roivant Sciences Ltd. (NASDAQ:ROIV) Price Target at $22.56

Roivant Sciences Ltd. (NASDAQ:ROIV) has been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.5625.

A number of brokerages recently commented on ROIV. The Goldman Sachs Group raised their price target on Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Jefferies Financial Group upped their price objective 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. JPMorgan Chase & Co. raised their target price on shares of Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Wall Street Zen raised shares of Roivant Sciences from a “strong sell” rating to a “hold” rating in a research note on Sunday. Finally, Citigroup boosted their price target on shares of Roivant Sciences from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, CEO Eric Venker sold 683,818 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $14.95, for a total value of $10,223,079.10. Following the completion of the transaction, the chief executive officer owned 1,969,767 shares in the company, valued at approximately $29,448,016.65. This represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $12.50, for a total value of $14,937,500.00. Following the transaction, the insider directly owned 36,089,108 shares of the company’s stock, valued at $451,113,850. This represents a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,183,561 shares of company stock valued at $117,258,750 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Roivant Sciences by 10.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,478 shares of the company’s stock valued at $1,034,000 after acquiring an additional 9,357 shares during the period. Corton Capital Inc. bought a new position in shares of Roivant Sciences during the first quarter valued at approximately $111,000. XTX Topco Ltd increased its stake in shares of Roivant Sciences by 634.1% during the first quarter. XTX Topco Ltd now owns 256,714 shares of the company’s stock valued at $2,590,000 after purchasing an additional 221,742 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Roivant Sciences by 44.8% during the first quarter. PNC Financial Services Group Inc. now owns 10,248 shares of the company’s stock valued at $103,000 after purchasing an additional 3,169 shares during the last quarter. Finally, New Age Alpha Advisors LLC boosted its position in shares of Roivant Sciences by 37.1% in the 1st quarter. New Age Alpha Advisors LLC now owns 21,966 shares of the company’s stock worth $222,000 after purchasing an additional 5,943 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Stock Performance

NASDAQ ROIV opened at $20.52 on Friday. The stock has a market cap of $14.01 billion, a P/E ratio of -36.64 and a beta of 1.23. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $21.35. The stock has a 50 day simple moving average of $17.29 and a two-hundred day simple moving average of $13.49.

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.