Roivant Sciences Ltd. (NASDAQ:ROIV) Receives $22.56 Consensus Target Price from Analysts

Roivant Sciences Ltd. (NASDAQ:ROIV) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $24.8125.

ROIV has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Roivant Sciences from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Jefferies Financial Group raised their price target on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Citigroup boosted their price target on Roivant Sciences from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. HC Wainwright increased their price objective on Roivant Sciences from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wall Street Zen upgraded Roivant Sciences from a “strong sell” rating to a “hold” rating in a research note on Sunday, November 16th.

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV opened at $21.90 on Thursday. Roivant Sciences has a 12 month low of $8.73 and a 12 month high of $22.56. The firm has a market capitalization of $15.23 billion, a P/E ratio of -39.11 and a beta of 1.22. The company’s fifty day moving average price is $19.49 and its 200 day moving average price is $14.81.

Insider Buying and Selling at Roivant Sciences

In related news, major shareholder Vivek Ramaswamy sold 353,745 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $22.05, for a total transaction of $7,800,077.25. Following the sale, the insider owned 34,132,463 shares of the company’s stock, valued at approximately $752,620,809.15. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.85, for a total value of $4,170,000.00. Following the completion of the sale, the chief executive officer owned 1,497,908 shares in the company, valued at approximately $31,231,381.80. This represents a 11.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 10,011,557 shares of company stock valued at $193,213,892. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roivant Sciences

A number of large investors have recently bought and sold shares of the stock. Allworth Financial LP increased its position in Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after buying an additional 583 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of Roivant Sciences during the third quarter valued at $217,000. Danske Bank A S acquired a new stake in shares of Roivant Sciences during the third quarter valued at $138,000. XTX Topco Ltd purchased a new stake in Roivant Sciences during the 3rd quarter worth about $1,067,000. Finally, Alyeska Investment Group L.P. raised its stake in Roivant Sciences by 326.7% in the 3rd quarter. Alyeska Investment Group L.P. now owns 494,455 shares of the company’s stock valued at $7,481,000 after purchasing an additional 378,589 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Company Profile

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.