Roivant Sciences Ltd. (NASDAQ:ROIV) Receives $19.94 Consensus PT from Brokerages

Roivant Sciences Ltd. (NASDAQ:ROIV) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $19.9375.

Several analysts recently weighed in on the stock. Citigroup began coverage on shares of Roivant Sciences in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $16.00 price objective on the stock. Leerink Partners upped their price objective on shares of Roivant Sciences from $18.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. JPMorgan Chase & Co. upped their target price on shares of Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Roivant Sciences in a report on Saturday, September 27th. Finally, Jefferies Financial Group upped their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th.

Roivant Sciences Stock Performance

NASDAQ ROIV opened at $16.17 on Friday. The firm’s fifty day moving average price is $12.97 and its two-hundred day moving average price is $11.60. The stock has a market cap of $11.04 billion, a PE ratio of -23.10 and a beta of 1.20. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $16.19.

Insiders Place Their Bets

In other news, CEO Matthew Gline acquired 3,315 shares of Roivant Sciences stock in a transaction on Thursday, September 18th. The stock was acquired at an average cost of $15.07 per share, with a total value of $49,957.05. Following the transaction, the chief executive officer owned 17,287,081 shares of the company’s stock, valued at approximately $260,516,310.67. This trade represents a 0.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Venker sold 611,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $14.83, for a total transaction of $9,061,130.00. Following the completion of the sale, the chief executive officer directly owned 1,504,959 shares of the company’s stock, valued at $22,318,541.97. The trade was a 28.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,686,749 shares of company stock valued at $50,302,987. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC grew its position in shares of Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock valued at $25,000 after acquiring an additional 1,108 shares during the period. CWM LLC boosted its holdings in Roivant Sciences by 44.6% in the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock worth $34,000 after buying an additional 920 shares during the period. UMB Bank n.a. lifted its stake in Roivant Sciences by 112.7% in the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock worth $42,000 after purchasing an additional 2,195 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Roivant Sciences by 94.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company’s stock worth $46,000 after purchasing an additional 2,233 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Roivant Sciences by 59.3% during the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock valued at $52,000 after buying an additional 1,905 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

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.