Roivant Sciences (NASDAQ:ROIV) Earns Buy Rating from HC Wainwright

by · The Markets Daily

Roivant Sciences (NASDAQ:ROIV – Get Free Report)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $18.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 50.38% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on ROIV. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Monday, September 9th. 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 research report on Wednesday, July 10th. Finally, Bank of America raised their price objective 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.39.

Get Our Latest Stock Analysis on Roivant Sciences

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $11.97 on Thursday. The firm has a 50-day simple moving average of $11.46 and a 200-day simple moving average of $11.06. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 2.37 and a beta of 1.25. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. Roivant Sciences has a 52 week low of $8.24 and a 52 week high of $13.24.

Roivant Sciences (NASDAQ:ROIV – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.33. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The firm had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $30.72 million. During the same period last year, the business earned ($0.38) earnings per share. Roivant Sciences’s revenue was up 155.1% compared to the same quarter last year. On average, equities analysts predict that Roivant Sciences will post -1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund Corp purchased a new position in shares of Roivant Sciences in the first quarter valued at approximately $3,115,000. American International Group Inc. boosted its stake in shares of Roivant Sciences by 7,589.5% in the first quarter. American International Group Inc. now owns 450,065 shares of the company’s stock valued at $4,744,000 after purchasing an additional 444,212 shares during the period. Nordea Investment Management AB purchased a new position in shares of Roivant Sciences in the first quarter valued at approximately $2,851,000. Magnetar Financial LLC purchased a new position in shares of Roivant Sciences in the first quarter valued at approximately $1,576,000. Finally, Mutual of America Capital Management LLC boosted its stake in shares of Roivant Sciences by 116.8% in the first quarter. Mutual of America Capital Management LLC now owns 325,937 shares of the company’s stock valued at $3,435,000 after purchasing an additional 175,574 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

About Roivant Sciences

(Get Free Report)

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.

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