Roivant Sciences Ltd. (NASDAQ:ROIV) Receives $17.93 Consensus Target Price from Brokerages

Roivant Sciences Ltd. (NASDAQ:ROIV) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.93.

A number of equities analysts recently commented on ROIV shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, November 13th. Finally, Bank of America upped their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th.

Roivant Sciences Price Performance

ROIV opened at $11.69 on Friday. The company’s 50 day simple moving average is $11.92 and its two-hundred day simple moving average is $11.57. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 2.07 and a beta of 1.25. Roivant Sciences has a 1-year low of $9.69 and a 1-year high of $13.06.

Insider Activity at Roivant Sciences

In other news, CIO Mayukh Sukhatme sold 412,584 shares of Roivant Sciences stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.05, for a total value of $4,971,637.20. Following the completion of the sale, the executive now directly owns 18,836,547 shares of the company’s stock, valued at approximately $226,980,391.35. The trade was a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Eric Venker sold 100,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $11.32, for a total value of $1,132,000.00. Following the transaction, the chief operating officer now directly owns 606,525 shares in the company, valued at approximately $6,865,863. The trade was a 14.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,942,629 shares of company stock worth $23,071,486. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors have recently bought and sold shares of ROIV. nVerses Capital LLC acquired a new position in shares of Roivant Sciences in the second quarter worth $34,000. Gladius Capital Management LP purchased a new position in Roivant Sciences in the third quarter valued at $35,000. Point72 Hong Kong Ltd acquired a new position in Roivant Sciences during the 2nd quarter worth $36,000. US Bancorp DE increased its holdings in Roivant Sciences by 146.5% during the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after purchasing an additional 1,948 shares during the period. Finally, GAMMA Investing LLC raised its position in Roivant Sciences by 57.0% in the 4th quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock valued at $42,000 after purchasing an additional 1,288 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

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.