Cantor Fitzgerald Reaffirms "Overweight" Rating for Roivant Sciences (NASDAQ:ROIV)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Roivant Sciences (NASDAQ:ROIV - Free Report) in a research note issued to investors on Monday, Benzinga reports.

A number of other equities research analysts have also recently weighed in on ROIV. Piper Sandler lifted their price objective on Roivant Sciences from $20.00 to $22.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. HC Wainwright reaffirmed a buy rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $17.10.

Roivant Sciences Trading Up 1.6 %

Shares of NASDAQ ROIV traded up $0.20 during mid-day trading on Monday, reaching $12.50. 15,803,926 shares of the company's stock were exchanged, compared to its average volume of 5,702,539. The company's 50-day moving average is $11.24 and its 200-day moving average is $11.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 2.47 and a beta of 1.25. Roivant Sciences has a 52-week low of $8.24 and a 52-week high of $13.24.

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

Institutional Investors Weigh In On Roivant Sciences

A number of large investors have recently modified their holdings of ROIV. Rubric Capital Management LP increased its holdings in shares of Roivant Sciences by 81.0% in the 4th 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 last quarter. Norges Bank acquired a new position in shares of Roivant Sciences in the 4th quarter valued at $41,506,000. Troluce Capital Advisors LLC purchased a new position in shares of Roivant Sciences in the 2nd quarter valued at $31,182,000. First Trust Advisors LP raised its stake in Roivant Sciences by 434.8% during the 4th quarter. First Trust Advisors LP now owns 2,739,438 shares of the company's stock worth $30,764,000 after acquiring an additional 2,227,192 shares in the last quarter. Finally, Penn Davis Mcfarland Inc. purchased a new stake in Roivant Sciences in the first quarter valued at $17,287,000. 64.76% of the stock is 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.