Roivant Sciences’ (ROIV) Buy Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of Roivant Sciences (NASDAQ:ROIV) in a research report released on Monday morning, Benzinga reports. Truist Financial currently has a $23.00 price target on the stock.

ROIV has been the subject of a number of other research reports. Wolfe Research initiated coverage on shares of Roivant Sciences in a research report on Thursday, February 15th. They set an outperform rating and a $17.00 price target for the company. TheStreet raised shares of Roivant Sciences from a d rating to a c+ rating in a research report on Tuesday, February 13th. Bank of America boosted their price objective on Roivant Sciences from $11.00 to $12.00 and gave the company a neutral rating in a report on Tuesday, January 2nd. HC Wainwright decreased their target price on Roivant Sciences from $18.00 to $17.00 and set a buy rating for the company in a research report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Roivant Sciences in a research report on Tuesday, December 12th. They set a buy rating and a $14.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $16.50.

Roivant Sciences Price Performance

ROIV opened at $10.84 on Monday. Roivant Sciences has a twelve month low of $6.97 and a twelve month high of $13.24. The company has a current ratio of 27.79, a quick ratio of 27.79 and a debt-to-equity ratio of 0.06. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 2.08 and a beta of 1.37. The company has a fifty day simple moving average of $10.74 and a 200 day simple moving average of $10.38.

Roivant Sciences (NASDAQ:ROIV) last announced its earnings results on Tuesday, February 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. The business had revenue of $37.14 million for the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a negative return on equity of 33.38% and a net margin of 3,624.14%. Equities research analysts expect that Roivant Sciences will post -1.36 EPS for the current fiscal year.

Insider Buying and Selling at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $11.05, for a total transaction of $33,150,000.00. Following the sale, the insider now directly owns 51,929,426 shares of the company’s stock, valued at $573,820,157.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roivant Sciences news, major shareholder Vivek Ramaswamy sold 3,000,000 shares of Roivant Sciences stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $11.05, for a total transaction of $33,150,000.00. Following the completion of the sale, the insider now owns 51,929,426 shares of the company’s stock, valued at approximately $573,820,157.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Eric Venker sold 96,950 shares of Roivant Sciences stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.92, for a total value of $1,058,694.00. Following the sale, the chief operating officer now directly owns 532,207 shares of the company’s stock, valued at approximately $5,811,700.44. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ROIV. Citigroup Inc. lifted its position in Roivant Sciences by 45.6% in the third quarter. Citigroup Inc. now owns 326,431 shares of the company’s stock worth $3,813,000 after purchasing an additional 102,279 shares during the period. Morgan Stanley raised its position in Roivant Sciences by 48.7% in the 3rd quarter. Morgan Stanley now owns 19,311,631 shares of the company’s stock valued at $225,560,000 after buying an additional 6,324,915 shares during the last quarter. Deerfield Management Company L.P. Series C grew its position in shares of Roivant Sciences by 18.4% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 1,604,487 shares of the company’s stock valued at $18,740,000 after acquiring an additional 249,513 shares during the period. Artia Global Partners LP raised its position in shares of Roivant Sciences by 422.5% in the second quarter. Artia Global Partners LP now owns 824,363 shares of the company’s stock valued at $8,310,000 after purchasing an additional 666,600 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Roivant Sciences during the third quarter worth approximately $4,200,000. 64.76% of the stock is owned by 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.