HC Wainwright Reaffirms “Buy” Rating for Roivant Sciences (NASDAQ:ROIV)

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report issued on Monday, Benzinga reports. They presently have a $18.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 64.53% from the company’s previous close.

Other research analysts have also issued reports about the stock. Truist Financial restated a “buy” rating and issued a $23.00 price objective on shares of Roivant Sciences in a research note on Monday, March 25th. Wolfe Research started coverage on shares of Roivant Sciences in a research note on Thursday, February 15th. They issued an “outperform” rating and a $17.00 price objective on the stock. Bank of America lifted their price objective on shares of Roivant Sciences from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, January 2nd. TheStreet raised shares of Roivant Sciences from a “d” rating to a “c+” rating in a report on Tuesday, February 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Roivant Sciences from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.90.

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV opened at $10.94 on Monday. The company’s fifty day moving average price is $10.95 and its 200 day moving average price is $10.36. Roivant Sciences has a 12 month low of $8.06 and a 12 month high of $13.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 27.79 and a quick ratio of 27.79. The firm has a market capitalization of $8.82 billion, a P/E ratio of 2.10 and a beta of 1.34.

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

Insider Buying and Selling

In related news, COO Eric Venker sold 96,950 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $5,811,700.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.60% of the stock is owned by insiders.

Institutional Trading of Roivant Sciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System acquired a new position in shares of Roivant Sciences in the first quarter valued at approximately $1,022,000. Amalgamated Bank raised its position in shares of Roivant Sciences by 172.7% in the first quarter. Amalgamated Bank now owns 191,734 shares of the company’s stock valued at $2,021,000 after buying an additional 121,426 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Roivant Sciences in the first quarter valued at approximately $389,000. State of Michigan Retirement System acquired a new position in shares of Roivant Sciences in the first quarter valued at approximately $853,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Roivant Sciences by 1,207.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 70,410 shares of the company’s stock valued at $742,000 after buying an additional 65,025 shares during the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.