Roivant Sciences (NASDAQ:ROIV) Stock Gets Price Target Bump from HC Wainwright

Roivant Sciences (NASDAQ:ROIV – Get Free Report) had its price objective raised by research analysts at HC Wainwright from $47.00 to $48.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright‘s target price suggests a potential upside of 18.02% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus began coverage on Roivant Sciences in a report on Wednesday, September 16th. They set a “buy” rating and a $51.00 price objective on the stock. Guggenheim lifted their target price on Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Jefferies Financial Group boosted their target price on Roivant Sciences from $42.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. Finally, Citigroup raised their price target on Roivant Sciences from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.64.

Check Out Our Latest Research Report on ROIV

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV opened at $40.67 on Tuesday. Roivant Sciences has a 12 month low of $19.79 and a 12 month high of $42.50. The firm has a market capitalization of $29.38 billion, a P/E ratio of -76.74 and a beta of 1.23. The company’s fifty day moving average price is $36.81 and its 200 day moving average price is $31.89.

Insider Activity

In other Roivant Sciences news, insider Mayukh Sukhatme sold 284,707 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $36.25, for a total transaction of $10,320,628.75. Following the completion of the sale, the insider directly owned 18,630,739 shares of the company’s stock, valued at $675,364,288.75. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Venker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $35.11, for a total value of $7,022,000.00. Following the sale, the chief executive officer directly owned 1,399,154 shares of the company’s stock, valued at $49,124,296.94. The trade was a 12.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,022,688 shares of company stock worth $73,438,636 in the last 90 days. 8.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roivant Sciences

Several large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Roivant Sciences by 18.2% during the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company’s stock worth $295,965,000 after purchasing an additional 1,286,464 shares during the period. Perceptive Advisors LLC increased its stake in Roivant Sciences by 3.8% in the 1st quarter. Perceptive Advisors LLC now owns 8,285,461 shares of the company’s stock valued at $229,507,000 after buying an additional 300,000 shares during the period. Pictet Asset Management Holding SA increased its stake in Roivant Sciences by 20.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 4,173,123 shares of the company’s stock valued at $152,597,000 after buying an additional 704,783 shares during the period. Bank of America Corp DE raised its position in Roivant Sciences by 8.0% during the 1st quarter. Bank of America Corp DE now owns 3,163,821 shares of the company’s stock worth $87,638,000 after buying an additional 235,493 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Roivant Sciences by 6.1% during the 1st quarter. Janus Henderson Group PLC now owns 3,095,448 shares of the company’s stock worth $85,790,000 after buying an additional 177,339 shares during the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Roivant Sciences Company Profile

(Get Free Report)

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases.

Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.

Roivant operates internationally, with activities spanning the United States and other markets.

Recommended Stories

Analyst Recommendations for Roivant Sciences (NASDAQ:ROIV)

Receive News & Ratings for Roivant Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roivant Sciences and related companies with MarketBeat.com's FREE daily email newsletter.