Truist Financial Reaffirms “Buy” Rating for Roivant Sciences (NASDAQ:ROIV)

Truist Financial reiterated their buy rating on shares of Roivant Sciences (NASDAQ:ROIV) in a research report released on Monday, Benzinga reports. Truist Financial currently has a $23.00 price objective on the stock.

A number of other research analysts have also recently issued reports on ROIV. TheStreet raised shares of Roivant Sciences from a d rating to a c+ rating in a report on Tuesday, February 13th. Wolfe Research began coverage on Roivant Sciences in a report on Thursday, February 15th. They issued an outperform rating and a $17.00 price objective on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Roivant Sciences in a research report on Tuesday, December 12th. They set a buy rating and a $14.00 price target on the stock. HC Wainwright cut their target price on shares of Roivant Sciences from $18.00 to $17.00 and set a buy rating for the company in a report on Wednesday, February 14th. Finally, Bank of America upped their price target on Roivant Sciences from $11.00 to $12.00 and gave the stock a neutral rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Roivant Sciences currently has a consensus rating of Moderate Buy and an average target price of $16.50.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $10.84 on Monday. Roivant Sciences has a 12 month low of $6.97 and a 12 month high of $13.24. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 2.08 and a beta of 1.37. The firm’s 50-day moving average is $10.74 and its 200 day moving average is $10.38. The company has a current ratio of 27.79, a quick ratio of 27.79 and a debt-to-equity ratio of 0.06.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.07. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. The business had revenue of $37.14 million during the quarter, compared to analyst estimates of $30.72 million. Research analysts predict that Roivant Sciences will post -1.36 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $11.05, for a total transaction of $33,150,000.00. Following the transaction, the insider now directly owns 51,929,426 shares in the company, valued at $573,820,157.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Eric Venker sold 96,950 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $10.92, for a total transaction of $1,058,694.00. Following the sale, the chief operating officer now owns 532,207 shares in the company, valued at $5,811,700.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Vivek Ramaswamy sold 3,000,000 shares of Roivant Sciences stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $11.05, for a total transaction of $33,150,000.00. Following the completion of the transaction, the insider now owns 51,929,426 shares in the company, valued at approximately $573,820,157.30. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Institutional Trading of Roivant Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of ROIV. Bank of New York Mellon Corp raised its stake in shares of Roivant Sciences by 10.1% in the 1st quarter. Bank of New York Mellon Corp now owns 47,274 shares of the company’s stock valued at $233,000 after buying an additional 4,335 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Roivant Sciences by 1,803.6% in the 1st quarter. Citigroup Inc. now owns 5,749 shares of the company’s stock worth $28,000 after buying an additional 5,447 shares in the last quarter. BlackRock Inc. lifted its position in shares of Roivant Sciences by 3.0% during the 1st quarter. BlackRock Inc. now owns 4,044,419 shares of the company’s stock worth $19,980,000 after buying an additional 117,329 shares during the period. Vanguard Group Inc. boosted its stake in Roivant Sciences by 13.8% in the 1st quarter. Vanguard Group Inc. now owns 1,319,499 shares of the company’s stock valued at $6,519,000 after buying an additional 159,787 shares in the last quarter. Finally, American International Group Inc. bought a new stake in Roivant Sciences in the first quarter valued at $8,965,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

About Roivant Sciences

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.