Roivant Sciences (NASDAQ:ROIV) Upgraded at Cantor Fitzgerald

Roivant Sciences (NASDAQ:ROIV) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Separately, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $18.08.

Roivant Sciences Price Performance

ROIV stock opened at $10.32 on Tuesday. The firm has a market cap of $7.36 billion, a PE ratio of -68.80 and a beta of 1.25. Roivant Sciences has a 12 month low of $9.76 and a 12 month high of $13.06. The firm has a 50 day simple moving average of $11.01 and a 200 day simple moving average of $11.57.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. As a group, sell-side analysts expect that Roivant Sciences will post -0.92 earnings per share for the current year.

Insider Transactions at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $11.49, for a total value of $1,149,000.00. Following the transaction, the chief operating officer now owns 595,580 shares in the company, valued at $6,843,214.20. This represents a 14.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CIO Mayukh Sukhatme sold 412,584 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.05, for a total transaction of $4,971,637.20. Following the sale, the executive now owns 18,836,547 shares of the company’s stock, valued at approximately $226,980,391.35. This represents a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,388,170 shares of company stock valued at $27,612,299 over the last quarter. Company insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Roivant Sciences by 0.3% during the 4th quarter. FMR LLC now owns 49,301,583 shares of the company’s stock valued at $583,238,000 after acquiring an additional 156,527 shares in the last quarter. Vanguard Group Inc. grew its stake in Roivant Sciences by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company’s stock valued at $521,553,000 after purchasing an additional 2,404,232 shares in the last quarter. State Street Corp grew its stake in Roivant Sciences by 6.1% in the third quarter. State Street Corp now owns 19,561,249 shares of the company’s stock valued at $225,737,000 after purchasing an additional 1,118,561 shares in the last quarter. Patient Square Capital LP increased its position in Roivant Sciences by 2.1% in the 4th quarter. Patient Square Capital LP now owns 12,480,000 shares of the company’s stock worth $147,638,000 after purchasing an additional 251,535 shares during the last quarter. Finally, Two Seas Capital LP raised its stake in shares of Roivant Sciences by 4.6% during the 4th quarter. Two Seas Capital LP now owns 10,167,807 shares of the company’s stock worth $120,285,000 after purchasing an additional 442,914 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.