Roivant Sciences (NASDAQ:ROIV) Price Target Raised to $33.00 at The Goldman Sachs Group

Roivant Sciences (NASDAQ:ROIV) had its price objective hoisted by The Goldman Sachs Group from $24.00 to $33.00 in a research report released on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Bank of America boosted their price objective 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. HC Wainwright increased their price target on shares of Roivant Sciences from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group lifted their price objective on Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Wall Street Zen upgraded Roivant Sciences from a “strong sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Guggenheim restated a “buy” rating and issued a $25.00 target price on shares of Roivant Sciences in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Roivant Sciences has an average rating of “Moderate Buy” and an average price target of $24.81.

Roivant Sciences Stock Performance

ROIV opened at $21.90 on Monday. The stock has a market capitalization of $15.23 billion, a PE ratio of -39.11 and a beta of 1.22. The stock’s 50 day moving average price is $19.49 and its 200-day moving average price is $14.81. Roivant Sciences has a 52-week low of $8.73 and a 52-week high of $22.56.

Insider Transactions at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 353,745 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $22.05, for a total transaction of $7,800,077.25. Following the completion of the transaction, the insider directly owned 34,132,463 shares in the company, valued at $752,620,809.15. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Allen Gold sold 1,300,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $20.23, for a total transaction of $26,299,000.00. Following the completion of the transaction, the director owned 18,047,727 shares in the company, valued at approximately $365,105,517.21. The trade was a 6.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 10,011,557 shares of company stock valued at $193,213,892. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Roivant Sciences

A number of hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in shares of Roivant Sciences by 226.0% in the third quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock worth $25,000 after purchasing an additional 1,148 shares during the last quarter. Allworth Financial LP raised its position in Roivant Sciences by 48.1% in the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after buying an additional 583 shares during the last quarter. Bessemer Group Inc. lifted its stake in Roivant Sciences by 41.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $28,000 after acquiring an additional 543 shares during the period. CWM LLC lifted its stake in Roivant Sciences by 44.6% during the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after acquiring an additional 920 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in shares of Roivant Sciences by 75.8% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 4,405 shares of the company’s stock valued at $67,000 after acquiring an additional 1,900 shares during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

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.