HC Wainwright Reaffirms Buy Rating for Roivant Sciences (NASDAQ:ROIV)

HC Wainwright restated their buy rating on shares of Roivant Sciences (NASDAQ:ROIV) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a $18.00 target price on the stock.

Other analysts have also issued reports about the stock. 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. Bank of America lifted their target price 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. Finally, Cantor Fitzgerald reissued an overweight rating on shares of Roivant Sciences in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $17.39.

Roivant Sciences Trading Up 0.4 %

NASDAQ ROIV opened at $11.97 on Thursday. The stock’s fifty day moving average price is $11.46 and its 200-day moving average price is $11.06. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. Roivant Sciences has a 12 month low of $8.24 and a 12 month high of $13.24. The stock has a market cap of $8.84 billion, a P/E ratio of 2.37 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $55.10 million for the quarter, compared to the consensus estimate of $30.72 million. During the same period in the prior year, the company posted ($0.38) earnings per share. The company’s quarterly revenue was up 155.1% on a year-over-year basis. As a group, equities analysts forecast that Roivant Sciences will post -1.14 EPS for the current fiscal year.

Institutional Trading of Roivant Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rubric Capital Management LP raised its stake in Roivant Sciences by 81.0% during the 4th 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 during the period. Norges Bank purchased a new stake in Roivant Sciences during the 4th quarter valued at approximately $41,506,000. Troluce Capital Advisors LLC bought a new stake in shares of 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 fourth 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 in the last quarter. Finally, Penn Davis Mcfarland Inc. bought a new position in shares of Roivant Sciences during the first quarter worth $17,287,000. 64.76% of the stock is owned by hedge funds and other 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.