Roivant Sciences (NASDAQ:ROIV) Receives “Overweight” Rating from Cantor Fitzgerald

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a research note issued on Thursday, Benzinga reports.

A number of other equities research analysts have also recently issued reports on ROIV. Bank of America boosted their price objective on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Thursday. Finally, Piper Sandler raised their price objective on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.39.

Roivant Sciences Stock Performance

ROIV stock traded up $0.03 during mid-day trading on Thursday, hitting $12.03. The company had a trading volume of 1,367,304 shares, compared to its average volume of 5,728,470. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91. The firm has a market cap of $8.89 billion, a PE ratio of 2.39 and a beta of 1.25. The stock’s fifty day moving average price is $11.43 and its two-hundred day moving average price is $11.05. Roivant Sciences has a 12 month low of $8.24 and a 12 month high of $13.24.

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 analysts’ consensus estimates of ($0.21) by $0.33. The business had revenue of $55.10 million during the quarter, compared to the consensus estimate of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The business’s revenue for the quarter was up 155.1% on a year-over-year basis. During the same period last year, the business posted ($0.38) earnings per share. On average, analysts forecast that Roivant Sciences will post -1.14 earnings per share for the current fiscal year.

Institutional Trading of Roivant Sciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP increased its stake in Roivant Sciences by 81.0% in the 4th quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock worth $213,370,000 after acquiring an additional 8,500,000 shares during the last quarter. Norges Bank bought a new position in shares of Roivant Sciences during the 4th quarter valued at about $41,506,000. Troluce Capital Advisors LLC bought a new position in Roivant Sciences during the second quarter valued at approximately $31,182,000. First Trust Advisors LP lifted its holdings in shares of Roivant Sciences by 434.8% in the 4th quarter. First Trust Advisors LP now owns 2,739,438 shares of the company’s stock worth $30,764,000 after acquiring an additional 2,227,192 shares during the last quarter. Finally, Penn Davis Mcfarland Inc. purchased a new stake in shares of Roivant Sciences in the 1st quarter valued at $17,287,000. 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.