Analysts Set Roivant Sciences Ltd. (NASDAQ:ROIV) Price Target at $40.62

Roivant Sciences Ltd. (NASDAQ:ROIV) has been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $45.6364.

Several analysts recently issued reports on the company. Guggenheim raised their target price on Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Jefferies Financial Group increased their price objective on Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Stifel Nicolaus initiated coverage on Roivant Sciences in a research report on Wednesday. They issued a “buy” rating and a $51.00 price objective on the stock. UBS Group set a $55.00 target price on Roivant Sciences in a research note on Wednesday, September 9th. Finally, HC Wainwright raised their price target on Roivant Sciences from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th.

Roivant Sciences Stock Down 0.5%

NASDAQ:ROIV opened at $39.77 on Friday. The company has a fifty day moving average of $36.18 and a 200 day moving average of $32.03. Roivant Sciences has a 52 week low of $14.50 and a 52 week high of $42.50. The firm has a market capitalization of $28.73 billion, a P/E ratio of -75.04 and a beta of 1.12.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04. The business had revenue of $1.44 million during the quarter, compared to analysts’ expectations of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. As a group, analysts anticipate that Roivant Sciences will post -2 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mayukh Sukhatme sold 284,707 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $36.25, for a total value of $10,320,628.75. Following the completion of the sale, the insider directly owned 18,630,739 shares of the company’s stock, valued at approximately $675,364,288.75. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel Gold sold 800,000 shares of Roivant Sciences stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $34.55, for a total transaction of $27,640,000.00. Following the sale, the director directly owned 13,701,546 shares in the company, valued at $473,388,414.30. The trade was a 5.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,060,851 shares of company stock worth $107,457,494. 8.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Roivant Sciences

Several large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new stake in shares of Roivant Sciences in the 2nd quarter worth about $431,000. Tidal Investments LLC increased its stake in shares of Roivant Sciences by 16.5% during the second quarter. Tidal Investments LLC now owns 103,397 shares of the company’s stock valued at $3,659,000 after purchasing an additional 14,662 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Roivant Sciences during the second quarter valued at approximately $16,830,000. Arizona State Retirement System lifted its holdings in shares of Roivant Sciences by 24.4% during the second quarter. Arizona State Retirement System now owns 128,364 shares of the company’s stock valued at $4,543,000 after purchasing an additional 25,199 shares during the last quarter. Finally, Waverly Advisors LLC lifted its holdings in shares of Roivant Sciences by 2.3% during the second quarter. Waverly Advisors LLC now owns 12,869 shares of the company’s stock valued at $455,000 after purchasing an additional 291 shares during the last quarter. 64.76% of the stock is owned by institutional investors.

About Roivant Sciences

Roivant Sciences Ltd. is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with significant unmet medical needs. The company concentrates on areas including immunology, dermatology, oncology and other specialty conditions, using a combination of internally developed programs, external licensing and strategic acquisitions.

Roivant organizes many of its drug-development activities through subsidiary companies known as “Vants.” These businesses are designed to advance individual therapeutic programs or groups of related assets, while Roivant provides operational, scientific and strategic support.