HC Wainwright Boosts Roivant Sciences (NASDAQ:ROIV) Price Target to $34.00

Roivant Sciences (NASDAQ:ROIV) had its target price raised by equities researchers at HC Wainwright from $33.00 to $34.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 22.08% from the stock’s current price.

ROIV has been the topic of several other reports. TD Cowen reissued a “buy” rating on shares of Roivant Sciences in a research report on Saturday, February 7th. Citigroup boosted their target price on shares of Roivant Sciences from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Jefferies Financial Group restated a “buy” rating on shares of Roivant Sciences in a research report on Tuesday. Leerink Partners lifted their price target on shares of Roivant Sciences from $29.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Finally, Guggenheim increased their price objective on shares of Roivant Sciences from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Roivant Sciences has an average rating of “Moderate Buy” and an average target price of $28.81.

Roivant Sciences Stock Down 0.9%

Shares of NASDAQ ROIV opened at $27.85 on Wednesday. The stock’s 50 day moving average price is $24.14 and its two-hundred day moving average price is $19.78. Roivant Sciences has a 52-week low of $8.73 and a 52-week high of $29.20. The stock has a market capitalization of $19.93 billion, a P/E ratio of -23.80 and a beta of 1.17.

Insiders Place Their Bets

In related news, insider Mayukh Sukhatme sold 339,441 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $26.47, for a total value of $8,985,003.27. Following the sale, the insider directly owned 19,148,664 shares in the company, valued at $506,865,136.08. This trade represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $26.49, for a total value of $5,298,000.00. Following the transaction, the chief executive officer owned 1,654,597 shares of the company’s stock, valued at $43,830,274.53. This trade represents a 10.78% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,318,014 shares of company stock worth $315,727,023. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its stake in shares of Roivant Sciences by 1,740.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company’s stock worth $27,000 after acquiring an additional 1,166 shares during the period. Jones Financial Companies Lllp raised its holdings in Roivant Sciences by 226.0% during the third quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock worth $25,000 after purchasing an additional 1,148 shares in the last quarter. Allworth Financial LP raised its holdings in Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after purchasing an additional 583 shares in the last quarter. Bessemer Group Inc. lifted its position in Roivant Sciences by 41.5% in the third quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock worth $28,000 after purchasing an additional 543 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in Roivant Sciences during the 4th quarter valued at $47,000. 64.76% of the stock is currently owned by institutional investors.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.