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

HC Wainwright restated their buy rating on shares of Roivant Sciences (NASDAQ:ROIV - Free Report) in a research note released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $18.00 price target on the stock.

ROIV has been the topic of several other reports. Cantor Fitzgerald restated an overweight rating on shares of Roivant Sciences in a report on Monday. Piper Sandler raised 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $17.15.

Roivant Sciences Stock Up 1.6 %

NASDAQ:ROIV traded up $0.19 during mid-day trading on Wednesday, reaching $12.38. The stock had a trading volume of 5,266,381 shares, compared to its average volume of 5,710,592. The stock has a market cap of $9.15 billion, a P/E ratio of 2.45 and a beta of 1.25. The business's 50 day moving average is $11.27 and its 200 day moving average is $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. Roivant Sciences has a fifty-two week low of $8.24 and a fifty-two week high of $13.24.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.33. The company had revenue of $55.10 million during 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 company's revenue for the quarter was up 155.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.38) earnings per share. As a group, sell-side analysts predict that Roivant Sciences will post -1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC grew its stake in shares of Roivant Sciences by 0.4% in the second quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company's stock worth $3,457,000 after acquiring an additional 1,142 shares during the last quarter. Acadian Asset Management LLC grew its position in Roivant Sciences by 23.2% in the 2nd quarter. Acadian Asset Management LLC now owns 8,510 shares of the company's stock worth $89,000 after purchasing an additional 1,603 shares during the last quarter. nVerses Capital LLC acquired a new stake in Roivant Sciences in the 2nd quarter worth $34,000. DNB Asset Management AS increased its holdings in shares of Roivant Sciences by 6.4% during the 2nd quarter. DNB Asset Management AS now owns 56,022 shares of the company's stock worth $592,000 after purchasing an additional 3,386 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Roivant Sciences during the second quarter valued at about $36,000. 64.76% of the stock is owned by 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.