Roivant Sciences (NASDAQ:ROIV) Shares Gap Up to $12.05

Roivant Sciences Ltd. (NASDAQ:ROIV) gapped up prior to trading on Wednesday . The stock had previously closed at $12.05, but opened at $12.30. Roivant Sciences shares last traded at $12.31, with a volume of 415,744 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ROIV shares. Bank of America raised their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, September 11th. Piper Sandler upped their price target on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research note on Monday, September 9th. One equities research 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 presently has an average rating of “Moderate Buy” and an average price target of $17.15.

Roivant Sciences Price Performance

The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $11.42 and a 200 day moving average price of $11.04. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 2.38 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly 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 company had revenue of $55.10 million for 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%. Roivant Sciences’s revenue for the quarter was up 155.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.38) earnings per share. As a group, equities research analysts expect that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Institutional Investors Weigh In On Roivant Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rubric Capital Management LP lifted its holdings in Roivant Sciences by 81.0% during the fourth quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock valued at $213,370,000 after purchasing an additional 8,500,000 shares in the last quarter. Norges Bank purchased a new position in Roivant Sciences in the 4th quarter valued at about $41,506,000. Troluce Capital Advisors LLC purchased a new position in Roivant Sciences in the 2nd quarter valued at about $31,182,000. First Trust Advisors LP boosted its holdings in 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 buying an additional 2,227,192 shares during the last quarter. Finally, Penn Davis Mcfarland Inc. purchased a new stake in Roivant Sciences during the 1st quarter worth approximately $17,287,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.