Roivant Sciences (NASDAQ:ROIV) Shares Gap Up to $12.05

Roivant Sciences Ltd. (NASDAQ:ROIV) gapped up prior to trading on Wednesday . The stock had previously closed at $12.05, but opened at $12.30. Roivant Sciences shares last traded at $12.31, with a volume of 415,744 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ROIV. Piper Sandler lifted their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Bank of America raised their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Monday, September 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, September 11th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Roivant Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $17.15.

Roivant Sciences Stock Up 1.9 %

The firm’s fifty day simple moving average is $11.42 and its two-hundred day simple moving average is $11.04. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 2.38 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.33. The firm had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The firm’s quarterly revenue was up 155.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.38) earnings per share. Sell-side analysts anticipate that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Institutional Trading of Roivant Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in Roivant Sciences by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,023,027 shares of the company’s stock valued at $22,719,000 after buying an additional 99,148 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Roivant Sciences by 26.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 18,742 shares of the company’s stock worth $210,000 after acquiring an additional 3,955 shares during the last quarter. Norges Bank purchased a new position in shares of Roivant Sciences during the 4th quarter worth approximately $41,506,000. Dynamic Technology Lab Private Ltd increased its holdings in Roivant Sciences by 35.1% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 17,155 shares of the company’s stock valued at $193,000 after purchasing an additional 4,458 shares during the last quarter. Finally, Decheng Capital LLC purchased a new stake in Roivant Sciences in the fourth quarter valued at approximately $14,371,000. 64.76% of the stock is owned by institutional investors and hedge funds.

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.