Roivant Sciences (NASDAQ:ROIV) Price Target Raised to $48.00

Roivant Sciences (NASDAQ:ROIV) had its target price raised by HC Wainwright from $47.00 to $48.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Citigroup increased their price target on shares of Roivant Sciences from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Sanford C. Bernstein raised Roivant Sciences to a “strong-buy” rating in a report on Wednesday, July 29th. Jefferies Financial Group boosted their target price on Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 24th. Finally, Stifel Nicolaus began coverage on Roivant Sciences in a research note on Wednesday, September 16th. They set a “buy” rating and a $51.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.64.

Roivant Sciences Stock Performance

NASDAQ ROIV opened at $39.99 on Tuesday. The firm’s fifty day moving average is $37.20 and its two-hundred day moving average is $32.16. Roivant Sciences has a one year low of $19.96 and a one year high of $42.50.

Insider Buying and Selling

In other Roivant Sciences news, CFO Richard Pulik sold 175,000 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $41.85, for a total transaction of $7,323,750.00. Following the transaction, the chief financial officer directly owned 222,046 shares in the company, valued at approximately $9,292,625.10. This represents a 44.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Melissa Epperly sold 17,750 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $36.10, for a total transaction of $640,775.00. Following the completion of the transaction, the director directly owned 14,954 shares of the company’s stock, valued at approximately $539,839.40. This trade represents a 54.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 2,267,454 shares of company stock valued at $84,719,413. Corporate insiders own 8.80% of the company’s stock.

Institutional Investors Weigh In On Roivant Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in Roivant Sciences during the third quarter worth $25,000. Compass Financial Management LLC acquired a new stake in Roivant Sciences in the third quarter valued at $37,000. Parallel Advisors LLC grew its holdings in Roivant Sciences by 33.7% in the first quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock valued at $57,000 after purchasing an additional 520 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Roivant Sciences by 21.8% in the first quarter. Bessemer Group Inc. now owns 2,465 shares of the company’s stock valued at $69,000 after buying an additional 441 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new position in shares of Roivant Sciences in the third quarter valued at $120,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Key Roivant Sciences News

These are some of the ROIV news items that stood out recently:

• Positive Sentiment: HC Wainwright raised its price target on ROIV, and recent analyst commentary has been bullish. A separate analysis points to pipeline momentum and potential contributions from trial results and drug-launch revenue. HC Wainwright price-target article Analyst commentary Pipeline momentum analysis
• Neutral Sentiment: A recent article discusses how clinical-trial outcomes and drug-launch revenue could affect Roivant’s stock, but the provided headline does not specify new trial results or revenue figures. Article on trial wins and launch revenue
• Negative Sentiment: CEO Eric Venker sold about 188,000 shares, reducing his position by 18.81%; the transaction was made under a pre-arranged Rule 10b5-1 plan. CFO Richard Pulik sold 125,000 shares on November 10 and another 175,000 on November 11, reducing his position by 44.08%. The sizable insider sales could pressure sentiment, though Venker’s sale was pre-scheduled. CEO SEC filing CFO SEC filing

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases. Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.