Roivant Sciences (NASDAQ:ROIV) Research Coverage Started at Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of Roivant Sciences (NASDAQ:ROIV) in a research note published on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $35.00 price target on the stock.

Several other research firms have also weighed in on ROIV. TD Cowen reissued a “buy” rating on shares of Roivant Sciences in a research report on Wednesday, March 4th. Jefferies Financial Group restated a “buy” rating on shares of Roivant Sciences in a research report on Tuesday, March 3rd. HC Wainwright raised their target price on Roivant Sciences from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Citigroup lifted their target price on Roivant Sciences from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Finally, Guggenheim boosted their price target on Roivant Sciences from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Roivant Sciences Stock Down 0.4%

Shares of NASDAQ ROIV opened at $27.70 on Friday. Roivant Sciences has a twelve month low of $8.73 and a twelve month high of $30.33. The firm has a fifty day simple moving average of $25.92 and a 200 day simple moving average of $21.31. The company has a market capitalization of $19.82 billion, a PE ratio of -23.68 and a beta of 1.17.

Insider Activity

In related news, Director Daniel Allen Gold sold 425,000 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $26.67, for a total value of $11,334,750.00. Following the completion of the sale, the director directly owned 15,928,113 shares of the company’s stock, valued at $424,802,773.71. The trade was a 2.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard Pulik sold 406,731 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $22.43, for a total value of $9,122,976.33. Following the transaction, the chief financial officer directly owned 239,413 shares in the company, valued at approximately $5,370,033.59. This trade represents a 62.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 6,794,685 shares of company stock valued at $173,053,290. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Roivant Sciences during the fourth quarter worth approximately $896,000. Pacer Advisors Inc. grew its position in Roivant Sciences by 24.0% in the 4th quarter. Pacer Advisors Inc. now owns 70,259 shares of the company’s stock valued at $1,525,000 after purchasing an additional 13,609 shares during the period. Dorsey Wright & Associates bought a new stake in Roivant Sciences during the 4th quarter valued at $8,162,000. Invesco Ltd. increased its stake in Roivant Sciences by 28.9% during the 4th quarter. Invesco Ltd. now owns 2,281,487 shares of the company’s stock valued at $49,508,000 after purchasing an additional 512,129 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Roivant Sciences during the fourth quarter worth $227,000. Institutional investors own 64.76% of the company’s stock.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.