Roivant Sciences (NASDAQ:ROIV) Price Target Raised to $22.00

Roivant Sciences (NASDAQ:ROIV) had its price target boosted by investment analysts at Piper Sandler from $20.00 to $22.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 96.78% from the stock’s previous close.

A number of other research analysts also recently issued reports on ROIV. The Goldman Sachs Group boosted their price target on Roivant Sciences from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research note on Tuesday, June 18th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Friday, May 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Roivant Sciences from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Truist Financial restated a “buy” rating and set a $23.00 target price on shares of Roivant Sciences in a report on Monday, March 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.10.

Roivant Sciences Stock Performance

Shares of ROIV traded up $0.35 during mid-day trading on Wednesday, hitting $11.18. The stock had a trading volume of 1,206,831 shares, compared to its average volume of 6,005,418. The company has a debt-to-equity ratio of 0.07, a current ratio of 25.24 and a quick ratio of 25.24. The firm has a market cap of $8.26 billion, a P/E ratio of 2.21 and a beta of 1.24. Roivant Sciences has a 52 week low of $8.24 and a 52 week high of $13.24. The business has a fifty day moving average price of $10.90 and a 200-day moving average price of $10.88.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The business had revenue of $28.93 million for the quarter, compared to analysts’ expectations of $32.46 million. Roivant Sciences had a negative return on equity of 25.05% and a net margin of 3,484.86%. On average, equities research analysts expect that Roivant Sciences will post -1.12 EPS for the current year.

Institutional Investors Weigh In On Roivant Sciences

Hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new position in shares of Roivant Sciences during the 4th quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in Roivant Sciences during the 4th quarter worth about $36,000. Allspring Global Investments Holdings LLC grew its stake in Roivant Sciences by 42.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,385 shares of the company’s stock valued at $60,000 after purchasing an additional 1,608 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Roivant Sciences in the first quarter valued at about $72,000. Finally, Premier Path Wealth Partners LLC acquired a new position in shares of Roivant Sciences in the first quarter valued at about $126,000. 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.