Brokerages Set Roivant Sciences Ltd. (NASDAQ:ROIV) PT at $17.93

Roivant Sciences Ltd. (NASDAQ:ROIV) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $17.93.

ROIV has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, November 13th. Bank of America raised their target price on 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 reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th.

Roivant Sciences Trading Down 3.2 %

Shares of ROIV opened at $11.69 on Friday. The firm’s fifty day simple moving average is $11.92 and its 200-day simple moving average is $11.57. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 2.07 and a beta of 1.25. Roivant Sciences has a twelve month low of $9.69 and a twelve month high of $13.06.

Insider Activity

In related news, COO Eric Venker sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $11.32, for a total value of $1,132,000.00. Following the transaction, the chief operating officer now owns 606,525 shares in the company, valued at $6,865,863. The trade was a 14.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CIO Mayukh Sukhatme sold 689,495 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $12.01, for a total value of $8,280,834.95. Following the sale, the executive now directly owns 18,836,547 shares of the company’s stock, valued at $226,226,929.47. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,942,629 shares of company stock valued at $23,071,486. 7.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC grew its position in Roivant Sciences by 51.3% in the 2nd quarter. Clearbridge Investments LLC now owns 1,860,536 shares of the company’s stock valued at $19,666,000 after buying an additional 630,712 shares during the last quarter. Point72 Asset Management L.P. raised its position in Roivant Sciences by 40.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 647,126 shares of the company’s stock worth $6,840,000 after buying an additional 185,226 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Roivant Sciences in the 3rd quarter worth $2,267,000. TOMS Capital Investment Management LP purchased a new stake in shares of Roivant Sciences in the third quarter valued at about $46,333,000. Finally, Barclays PLC increased its stake in shares of Roivant Sciences by 19.7% during the third quarter. Barclays PLC now owns 459,521 shares of the company’s stock worth $5,302,000 after acquiring an additional 75,609 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

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.