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

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.93.

A number of analysts recently commented on ROIV shares. Bank of America increased 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 reiterated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th.

Insider Activity at Roivant Sciences

In related news, COO Eric Venker sold 177,704 shares of Roivant Sciences stock in a transaction on Monday, December 30th. The stock was sold at an average price of $11.54, for a total value of $2,050,704.16. Following the transaction, the chief operating officer now owns 740,976 shares in the company, valued at approximately $8,550,863.04. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Mayukh Sukhatme sold 689,495 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $12.01, for a total value of $8,280,834.95. Following the sale, the executive now owns 18,836,547 shares of the company’s stock, valued at $226,226,929.47. This represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,942,629 shares of company stock worth $23,071,486. 7.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ROIV. Clearbridge Investments LLC increased its position 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 worth $19,666,000 after acquiring an additional 630,712 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in 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 purchasing an additional 185,226 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Roivant Sciences in the 3rd quarter valued at $2,267,000. TOMS Capital Investment Management LP purchased a new position in Roivant Sciences in the third quarter valued at about $46,333,000. Finally, Barclays PLC lifted its stake in shares of Roivant Sciences by 19.7% during the third quarter. Barclays PLC now owns 459,521 shares of the company’s stock worth $5,302,000 after purchasing an additional 75,609 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $11.52 on Friday. The business’s fifty day moving average price is $11.91 and its two-hundred day moving average price is $11.58. The stock has a market cap of $8.39 billion, a PE ratio of 2.04 and a beta of 1.27. Roivant Sciences has a one year low of $9.69 and a one year high of $13.06.

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.