Cantor Fitzgerald Reaffirms Overweight Rating for Roivant Sciences (NASDAQ:ROIV)

Cantor Fitzgerald reissued their overweight rating on shares of Roivant Sciences (NASDAQ:ROIV) in a research note published on Thursday, Benzinga reports.

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

Roivant Sciences Stock Up 0.4 %

Shares of NASDAQ ROIV opened at $11.97 on Thursday. 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 company has a market cap of $8.84 billion, a P/E ratio of 2.37 and a beta of 1.25. Roivant Sciences has a 52 week low of $8.24 and a 52 week high of $13.24. The business has a 50-day simple moving average of $11.46 and a two-hundred day simple moving average of $11.05.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.33. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The company had revenue of $55.10 million during the quarter, compared to analyst estimates of $30.72 million. During the same quarter last year, the company earned ($0.38) earnings per share. The firm’s quarterly revenue was up 155.1% on a year-over-year basis. Research analysts anticipate that Roivant Sciences will post -1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Roivant Sciences

Hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC grew its holdings in shares of Roivant Sciences by 51.3% in the second quarter. Clearbridge Investments LLC now owns 1,860,536 shares of the company’s stock valued at $19,666,000 after purchasing an additional 630,712 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Roivant Sciences by 318.8% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 158,300 shares of the company’s stock worth $1,674,000 after buying an additional 120,500 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Roivant Sciences by 39.4% in the 2nd quarter. Cetera Investment Advisers now owns 100,288 shares of the company’s stock worth $1,060,000 after buying an additional 28,324 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Roivant Sciences by 40.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 647,126 shares of the company’s stock valued at $6,840,000 after acquiring an additional 185,226 shares during the last quarter. Finally, Quarry LP purchased a new position in Roivant Sciences in the second quarter worth about $53,000. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Company Profile

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.