Analysts Set Roivant Sciences Ltd. (NASDAQ:ROIV) Target Price at $19.94

Roivant Sciences Ltd. (NASDAQ:ROIV) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $19.9375.

A number of research firms recently commented on ROIV. HC Wainwright increased their price target on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Roivant Sciences in a research report on Saturday, September 27th. The Goldman Sachs Group increased their price target on Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Guggenheim increased their price target on Roivant Sciences from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Finally, Leerink Partners increased their price target on Roivant Sciences from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th.

Insiders Place Their Bets

In other news, CEO Matthew Gline acquired 3,315 shares of Roivant Sciences stock in a transaction on Thursday, September 18th. The shares were purchased at an average price of $15.07 per share, with a total value of $49,957.05. Following the acquisition, the chief executive officer owned 17,287,081 shares in the company, valued at $260,516,310.67. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $12.50, for a total value of $14,937,500.00. Following the transaction, the insider directly owned 36,089,108 shares in the company, valued at approximately $451,113,850. This represents a 3.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,686,749 shares of company stock valued at $50,302,987. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Roivant Sciences

Several hedge funds have recently added to or reduced their stakes in ROIV. Jefferies Financial Group Inc. acquired a new stake in Roivant Sciences during the 4th quarter worth $473,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Roivant Sciences during the fourth quarter worth approximately $194,000. California State Teachers Retirement System lifted its position in Roivant Sciences by 10.7% during the fourth quarter. California State Teachers Retirement System now owns 391,703 shares of the company’s stock worth $4,634,000 after acquiring an additional 37,982 shares during the last quarter. GAMMA Investing LLC lifted its position in Roivant Sciences by 1,746.5% during the first quarter. GAMMA Investing LLC now owns 65,514 shares of the company’s stock worth $6,493,000 after acquiring an additional 61,966 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Roivant Sciences by 80.5% in the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock valued at $25,000 after buying an additional 1,108 shares in the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Price Performance

NASDAQ ROIV opened at $16.17 on Friday. The firm has a market cap of $11.04 billion, a PE ratio of -23.10 and a beta of 1.20. Roivant Sciences has a one year low of $8.73 and a one year high of $16.19. The stock’s 50 day simple moving average is $12.97 and its 200 day simple moving average is $11.60.

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.