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

HC Wainwright restated their buy rating on shares of Roivant Sciences (NASDAQ:ROIV) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $18.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. TheStreet raised Roivant Sciences from a d rating to a c+ rating in a report on Tuesday, February 13th. Bank of America lifted their price objective on Roivant Sciences from $11.00 to $12.00 and gave the stock a neutral rating in a research note on Tuesday, January 2nd. Truist Financial reiterated a buy rating and set a $23.00 target price on shares of Roivant Sciences in a report on Monday, March 25th. Deutsche Bank Aktiengesellschaft upped their target price on Roivant Sciences from $14.00 to $15.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group boosted their price target on Roivant Sciences from $16.00 to $18.00 and gave the company a buy rating in a research note 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 stock currently has an average rating of Moderate Buy and an average price target of $16.90.

Roivant Sciences Stock Performance

Roivant Sciences stock opened at $10.90 on Monday. The stock’s 50 day moving average price is $10.94 and its 200 day moving average price is $10.36. The firm has a market capitalization of $8.78 billion, a PE ratio of 2.10 and a beta of 1.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 27.79 and a current ratio of 27.79. Roivant Sciences has a one year low of $8.06 and a one year high of $13.24.

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

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 96,950 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $5,811,700.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ROIV. Citigroup Inc. boosted its position in Roivant Sciences by 45.6% during the third quarter. Citigroup Inc. now owns 326,431 shares of the company’s stock valued at $3,813,000 after buying an additional 102,279 shares during the period. Morgan Stanley boosted its holdings in Roivant Sciences by 48.7% in the third quarter. Morgan Stanley now owns 19,311,631 shares of the company’s stock worth $225,560,000 after acquiring an additional 6,324,915 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its stake in shares of Roivant Sciences by 18.4% in the third quarter. Deerfield Management Company L.P. Series C now owns 1,604,487 shares of the company’s stock worth $18,740,000 after buying an additional 249,513 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Roivant Sciences during the third quarter valued at $4,200,000. Finally, Corton Capital Inc. lifted its position in Roivant Sciences by 87.2% during the third quarter. Corton Capital Inc. now owns 27,236 shares of the company’s stock valued at $318,000 after purchasing an additional 12,685 shares during the period. 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.