HC Wainwright Reiterates “Buy” Rating for Roivant Sciences (NASDAQ:ROIV)

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $18.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 54.64% from the company’s previous close.

ROIV has been the topic of several other research reports. Bank of America upped their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Roivant Sciences currently has an average rating of “Moderate Buy” and an average target price of $17.69.

Roivant Sciences Price Performance

Shares of NASDAQ:ROIV opened at $11.64 on Wednesday. The business’s 50 day simple moving average is $11.78 and its 200-day simple moving average is $11.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 2.07 and a beta of 1.24. Roivant Sciences has a 12 month low of $8.56 and a 12 month high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.10). Roivant Sciences had a net margin of 3,827.42% and a negative return on equity of 14.65%. The business had revenue of $4.48 million during the quarter, compared to analysts’ expectations of $34.57 million. As a group, equities analysts forecast that Roivant Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Keith S. Manchester sold 368,052 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total value of $4,276,764.24. Following the completion of the sale, the director now owns 1,412,126 shares of the company’s stock, valued at $16,408,904.12. This represents a 20.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Eric Venker sold 100,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $11.65, for a total transaction of $1,165,000.00. Following the sale, the chief operating officer now directly owns 617,470 shares of the company’s stock, valued at approximately $7,193,525.50. This trade represents a 13.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,577,309 shares of company stock valued at $42,151,184. 7.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roivant Sciences

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in Roivant Sciences in the second quarter valued at approximately $34,000. Gladius Capital Management LP acquired a new stake in Roivant Sciences during the 3rd quarter valued at $35,000. Point72 Hong Kong Ltd purchased a new stake in Roivant Sciences during the 2nd quarter worth $36,000. US Bancorp DE lifted its holdings in Roivant Sciences by 146.5% in the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after buying an additional 1,948 shares in the last quarter. Finally, Quarry LP acquired a new position in Roivant Sciences in the 2nd quarter worth $53,000. 64.76% of the stock is currently 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.