Roivant Sciences (NASDAQ:ROIV) Receives “Buy” Rating from HC Wainwright

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $18.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 47.66% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research report on Monday. Piper Sandler increased their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.10.

Roivant Sciences Trading Down 2.5 %

ROIV opened at $12.19 on Wednesday. Roivant Sciences has a 12-month low of $8.24 and a 12-month high of $13.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. The stock has a market capitalization of $9.01 billion, a PE ratio of 2.41 and a beta of 1.25. The firm’s fifty day moving average price is $11.24 and its 200 day moving average price is $11.02.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.33. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The business had revenue of $55.10 million during the quarter, compared to the consensus estimate of $30.72 million. During the same period last year, the firm earned ($0.38) earnings per share. The company’s revenue for the quarter was up 155.1% compared to the same quarter last year. As a group, research analysts expect that Roivant Sciences will post -1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Roivant Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in Roivant Sciences during the 2nd quarter valued at $34,000. Point72 Hong Kong Ltd bought a new stake in shares of Roivant Sciences during the second quarter valued at about $36,000. Quarry LP acquired a new stake in Roivant Sciences in the second quarter worth about $53,000. Acadian Asset Management LLC bought a new position in Roivant Sciences in the 1st quarter valued at about $72,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Roivant Sciences during the 2nd quarter valued at about $101,000. 64.76% of the stock is owned by 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.