Sanford C. Bernstein Initiates Coverage on Roivant Sciences (NASDAQ:ROIV)

Sanford C. Bernstein started coverage on shares of Roivant Sciences (NASDAQ:ROIV) in a note issued to investors on Friday, MarketBeat reports. The brokerage set an “outperform” rating and a $35.00 price target on the stock. Sanford C. Bernstein’s price target would indicate a potential upside of 26.35% from the company’s current price.

Several other brokerages have also commented on ROIV. HC Wainwright increased their price objective on Roivant Sciences from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Leerink Partners boosted their target price on Roivant Sciences from $29.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Citigroup upped their target price on Roivant Sciences from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Jefferies Financial Group reiterated a “buy” rating on shares of Roivant Sciences in a research note on Tuesday, March 3rd. Finally, TD Cowen reissued a “buy” rating on shares of Roivant Sciences in a report on Wednesday, March 4th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Roivant Sciences Stock Down 0.4%

NASDAQ:ROIV opened at $27.70 on Friday. The stock has a market capitalization of $19.82 billion, a price-to-earnings ratio of -23.68 and a beta of 1.17. Roivant Sciences has a 52 week low of $8.73 and a 52 week high of $30.33. The firm has a 50 day moving average of $25.92 and a 200 day moving average of $21.25.

Insider Activity

In related news, insider Mayukh Sukhatme sold 339,441 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $26.47, for a total value of $8,985,003.27. Following the transaction, the insider directly owned 19,148,664 shares of the company’s stock, valued at $506,865,136.08. This represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Melissa B. Epperly sold 41,861 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $28.68, for a total value of $1,200,573.48. Following the completion of the transaction, the director owned 15,804 shares of the company’s stock, valued at $453,258.72. This trade represents a 72.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 6,794,685 shares of company stock valued at $173,053,290. 10.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Morgan Stanley boosted its position in Roivant Sciences by 31.7% in the fourth quarter. Morgan Stanley now owns 58,359,553 shares of the company’s stock valued at $1,266,402,000 after buying an additional 14,036,696 shares during the last quarter. Vanguard Group Inc. raised its position in Roivant Sciences by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company’s stock worth $912,681,000 after buying an additional 3,254,113 shares during the last quarter. Rubric Capital Management LP lifted 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 acquiring an additional 2,603,260 shares during the period. State Street Corp lifted its stake in Roivant Sciences by 4.8% during the 2nd quarter. State Street Corp now owns 19,773,480 shares of the company’s stock valued at $222,847,000 after acquiring an additional 911,827 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Roivant Sciences by 570.0% in the 4th quarter. UBS Group AG now owns 18,390,792 shares of the company’s stock valued at $399,080,000 after acquiring an additional 15,645,836 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 is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.