Roivant Sciences (NASDAQ:ROIV) Price Target Raised to $12.50 at Bank of America

Roivant Sciences (NASDAQ:ROIV - Free Report) had its price target hoisted by Bank of America from $12.00 to $12.50 in a report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts also recently commented on the company. Cantor Fitzgerald reaffirmed an overweight rating on shares of Roivant Sciences in a research note on Monday. Piper Sandler increased their price target on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Finally, HC Wainwright restated a buy rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $17.15.

Roivant Sciences Stock Performance

Roivant Sciences stock traded up $0.19 during trading hours on Wednesday, hitting $12.38. The company had a trading volume of 5,266,381 shares, compared to its average volume of 5,710,592. Roivant Sciences has a one year low of $8.24 and a one year high of $13.24. The firm has a 50-day moving average of $11.27 and a 200 day moving average of $11.03. 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 firm has a market cap of $9.15 billion, a PE ratio of 2.45 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $55.10 million for the quarter, compared to analysts' expectations of $30.72 million. During the same quarter last year, the business earned ($0.38) EPS. The company's quarterly revenue was up 155.1% compared to the same quarter last year. On average, sell-side analysts expect that Roivant Sciences will post -1.14 earnings per share for the current year.

Hedge Funds Weigh In On Roivant Sciences

Several large investors have recently bought and sold shares of the company. Rubric Capital Management LP grew its stake in Roivant Sciences by 81.0% in the fourth quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company's stock valued at $213,370,000 after acquiring an additional 8,500,000 shares during the period. Norges Bank bought a new stake in shares of Roivant Sciences in the fourth quarter valued at $41,506,000. Troluce Capital Advisors LLC bought a new stake in shares of Roivant Sciences in the second quarter valued at $31,182,000. First Trust Advisors LP raised its stake in shares of Roivant Sciences by 434.8% in the fourth quarter. First Trust Advisors LP now owns 2,739,438 shares of the company's stock valued at $30,764,000 after buying an additional 2,227,192 shares during the period. Finally, Penn Davis Mcfarland Inc. bought a new stake in shares of Roivant Sciences in the first quarter valued at $17,287,000. 64.76% of the stock is currently 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.