Roivant Sciences (NASDAQ:ROIV) Given Buy Rating at HC Wainwright

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $18.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 50.00% from the stock’s current price.

ROIV has been the topic of several other reports. Piper Sandler boosted their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Monday, September 9th. Finally, Bank of America lifted their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Roivant Sciences has a consensus rating of “Moderate Buy” and an average target price of $17.39.

Roivant Sciences Stock Down 0.4 %

Shares of NASDAQ:ROIV opened at $12.00 on Thursday. Roivant Sciences has a fifty-two week low of $8.24 and a fifty-two week high of $13.24. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. The firm’s 50-day simple moving average is $11.43 and its 200-day simple moving average is $11.05. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 2.37 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last released its earnings results on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.33. The company had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The firm’s quarterly revenue was up 155.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.38) EPS. As a group, equities research analysts predict that Roivant Sciences will post -1.14 earnings per share for the current year.

Institutional Trading of Roivant Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in Roivant Sciences in the 2nd quarter valued at about $34,000. Point72 Hong Kong Ltd purchased a new position in shares of Roivant Sciences during the second quarter valued at approximately $36,000. Quarry LP acquired a new stake in Roivant Sciences during the second quarter worth approximately $53,000. Acadian Asset Management LLC purchased a new stake in Roivant Sciences in the 1st quarter worth approximately $72,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Roivant Sciences in the 2nd quarter valued at $101,000. 64.76% of the stock is currently owned by hedge funds and other 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.