HC Wainwright reiterates “buy” rating on Roivant Sciences (NASDAQ:ROIV)

HC Wainwright reiterated their buy rating on shares of Roivant Sciences (NASDAQ:ROIV – Free Report) in a research note released Monday morning, Benzinga reports. The brokerage currently has a target price of $18.00 on the stock.

A number of other brokers have also recently commented on ROIV. Bank of America lifted their price target on Roivant Sciences from $11.00 to $12.00 and gave the stock a neutral rating in a research report on Tuesday, January 2. Deutsche Bank Aktiengesellschaft raised their target price on shares of Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, April 3. The Goldman Sachs Group raised their target price on shares of Roivant Sciences from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, April 3. Wolfe Research initiated 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. Finally, Piper Sandler opened up on shares of Roivant Sciences in a research note on Friday, January 5th. They set an overweight rating and a $20.00 target price for the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $16.90.

Check out our latest stock report on Roivant Sciences

Roivant Sciences stock performance

ROIV opened at $10.60 on Monday. Roivant Sciences has a 12-month low of $8.06 and a 12-month high of $13.24. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 2.08 and a beta of 1.34. The company has a current ratio of 27.79, a quick ratio of 27.79 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average is $10.95 and its 200-day moving average is $10.36.

Roivant Sciences (NASDAQ:ROIV – Get Free Report) posted its latest quarterly results on Tuesday, February 13. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.07. The company had revenue of $37.14 million for the quarter, compared to analyst expectations of $30.72 million. Roivant Sciences had a net margin of 3,624.14% and a negative return on equity of 33.38%. On average, stock analysts predict that Roivant Sciences will post -1.36 earnings per share for the current year.

Insiders place their bets

In other Roivant Sciences news, COO Eric Venker sold 96,950 shares of the stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Corporate insiders own 4.60% of the company’s shares.

Institutional trading in Roivant sciences

Several hedge funds have recently changed their holdings of ROIV. Mirabella Financial Services LLP increased its stake in Roivant Sciences by 4.1% during the third quarter. Mirabella Financial Services LLP now owns 34,583 shares of the company’s stock valued at $404,000 after purchasing an additional 1,362 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Roivant Sciences by 42.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,385 shares of the company’s stock valued at $60,000 after acquiring an additional 1,608 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Roivant Sciences by 16.7% during the third quarter. Vontobel Holding Ltd. now owns 15,782 shares of the company’s stock worth $184,000, after acquiring an additional 2,258 shares in the last quarter. VELA Investment Management LLC increased its position in Roivant Sciences by 8.8% during the fourth quarter. VELA Investment Management LLC now owns 32,386 shares of the company’s stock valued at $364,000 after purchasing an additional 2,621 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Roivant Sciences in the 4th quarter worth approximately $33,000. 64.76% of the shares are held by hedge funds and other institutional investors.

About Roivant Sciences

(Get a free report)

Roivant Sciences Ltd., a commercial-stage biopharmaceutical company, is engaged in the development and commercialization of drugs for inflammatory and immunological areas. The company offers Vanants, a model for the development and commercialization of its medicines and technologies, aimed at biopharmaceutical companies, discovery-stage companies and health technology startups.

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