The Goldman Sachs Group Raises Roivant Sciences (NASDAQ:ROIV) Price Target to $33.00

Roivant Sciences (NASDAQ:ROIV) had its target price raised by The Goldman Sachs Group from $24.00 to $33.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 43.85% from the company’s current price.

Several other research firms also recently weighed in on ROIV. Wall Street Zen raised shares of Roivant Sciences from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 16th. Jefferies Financial Group lifted their price objective on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Leerink Partners upped their target price on Roivant Sciences from $29.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Finally, Citigroup boosted their price target on Roivant Sciences from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.81.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV opened at $22.94 on Monday. Roivant Sciences has a fifty-two week low of $8.73 and a fifty-two week high of $23.23. The company has a market cap of $15.95 billion, a PE ratio of -40.96 and a beta of 1.22. The business has a 50-day simple moving average of $19.63 and a two-hundred day simple moving average of $14.89.

Insider Activity at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 1,975,858 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $21.96, for a total value of $43,389,841.68. Following the sale, the insider owned 36,350,621 shares in the company, valued at $798,259,637.16. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Venker sold 683,818 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $14.95, for a total transaction of $10,223,079.10. Following the sale, the chief executive officer directly owned 1,969,767 shares in the company, valued at $29,448,016.65. The trade was a 25.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,011,557 shares of company stock worth $193,213,892 over the last three months. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in shares of Roivant Sciences by 226.0% in the third quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock worth $25,000 after acquiring an additional 1,148 shares during the period. Allworth Financial LP raised its holdings in Roivant Sciences by 48.1% in the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after purchasing an additional 583 shares during the period. Bessemer Group Inc. boosted its position in Roivant Sciences by 41.5% during the third quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock worth $28,000 after purchasing an additional 543 shares in the last quarter. CWM LLC boosted its position in Roivant Sciences by 44.6% during the second quarter. CWM LLC now owns 2,984 shares of the company’s stock worth $34,000 after purchasing an additional 920 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Roivant Sciences by 94.8% in the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company’s stock valued at $46,000 after buying an additional 2,233 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.