Roivant Sciences (NASDAQ:ROIV) Receives Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Roivant Sciences (NASDAQ:ROIV) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $23.00 target price on the stock.

Several other brokerages have also issued reports on ROIV. Bank of America boosted their price target on shares of Roivant Sciences from $11.00 to $12.00 and gave the company a neutral rating in a report on Tuesday, January 2nd. Wolfe Research began coverage on shares of Roivant Sciences in a research report on Thursday, February 15th. They issued an outperform rating and a $17.00 price target for the company. Piper Sandler started coverage on Roivant Sciences in a report on Friday, January 5th. They set an overweight rating and a $20.00 price objective on the stock. TheStreet raised Roivant Sciences from a d rating to a c+ rating in a research note on Tuesday, February 13th. Finally, HC Wainwright dropped their price objective on Roivant Sciences from $18.00 to $17.00 and set a buy rating for the company in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Roivant Sciences currently has a consensus rating of Moderate Buy and a consensus target price of $16.50.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $10.84 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 27.79 and a current ratio of 27.79. The firm’s 50-day moving average is $10.74 and its 200-day moving average is $10.38. Roivant Sciences has a 52-week low of $6.97 and a 52-week high of $13.24. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 2.08 and a beta of 1.37.

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. The firm had revenue of $37.14 million during the quarter, compared to analysts’ expectations of $30.72 million. Roivant Sciences had a negative return on equity of 33.38% and a net margin of 3,624.14%. Equities research analysts anticipate that Roivant Sciences will post -1.36 earnings per share for the current year.

Insider Transactions at Roivant Sciences

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

Hedge Funds Weigh In On Roivant Sciences

Large investors have recently made changes to their positions in the company. Dagco Inc. bought a new stake in Roivant Sciences during the 4th quarter worth about $27,000. Citigroup Inc. boosted its stake in Roivant Sciences by 1,803.6% in the first quarter. Citigroup Inc. now owns 5,749 shares of the company’s stock valued at $28,000 after acquiring an additional 5,447 shares during the last quarter. Royal Bank of Canada grew its holdings in Roivant Sciences by 60,550.0% during the 1st quarter. Royal Bank of Canada now owns 6,065 shares of the company’s stock worth $30,000 after acquiring an additional 6,055 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Roivant Sciences during the 4th quarter valued at $33,000. Finally, Headlands Technologies LLC acquired a new position in shares of Roivant Sciences in the 4th quarter valued at $36,000. 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.