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

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) 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 changing hands.

Analyst Ratings Changes

ROIV has been the subject of several recent research reports. Bank of America upped their price target on Roivant Sciences from $12.00 to $12.50 and gave the stock a "neutral" rating in a report on Wednesday, September 11th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Roivant Sciences in a report on Monday, September 9th. Piper Sandler boosted their price target 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. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.15.

Roivant Sciences Stock Down 0.4 %

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 stock has a market capitalization of $8.86 billion, a P/E ratio of 2.38 and a beta of 1.25. The stock's 50-day moving average price is $11.42 and its two-hundred day moving average price is $11.04.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, beating 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 business had revenue of $55.10 million during the quarter, compared to analyst estimates of $30.72 million. During the same period in the prior year, the company earned ($0.38) earnings per share. Roivant Sciences's revenue was up 155.1% compared to the same quarter last year. As a group, research analysts expect that Roivant Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Roivant Sciences

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

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.