Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) have received an average recommendation of “Moderate Buy” from analysts, according to a report by Marketbeat Ratings. This assessment comes from ten analysts actively covering the biopharmaceutical company. Among these analysts, two have issued hold recommendations, seven have issued buy recommendations, and one has given a strong buy rating.
The average 12-month price target for Roivant shares is currently set at $25.19. Several analysts have recently revised their forecasts for the company. On December 15, Leerink Partners raised its target price from $29.00 to $32.00 while maintaining an “outperform” rating. On the same day, Goldman Sachs Group increased its target price from $24.00 to $33.00 and assigned a “buy” rating.
Another firm, Guggenheim, reiterated a “buy” rating and set a price target of $28.00 on December 18. In a separate report, Wall Street Zen upgraded its rating from “strong sell” to “hold” on November 16. Additionally, JPMorgan Chase & Co. adjusted their target price from $16.00 to $20.00 and maintained an “overweight” rating on September 18.
Institutional Investors Adjust Stakes
Recent trading activity has seen significant movements among institutional investors regarding their stakes in Roivant. Bessemer Group Inc. increased its holdings by 41.5% during the third quarter, now owning 1,852 shares valued at approximately $28,000. Similarly, Allworth Financial LP boosted its stake by 48.1%, owning 1,795 shares worth about $27,000.
Furthermore, Utah Retirement Systems enhanced its holdings by 3.0%, bringing its total to 20,626 shares valued at $312,000. Xponance Inc. also increased its stake by 1.9%, now holding 46,718 shares worth around $707,000. Lastly, CWM LLC raised its investment by 44.6%, acquiring an additional 920 shares during the second quarter, resulting in a total of 2,984 shares valued at $34,000. Overall, institutional investors now own 64.76% of Roivant Sciences.
Current Share Performance
As of Monday, Roivant’s stock opened at $21.98. The company has experienced a 52-week low of $8.73 and a high of $23.47. Roivant Sciences holds a market capitalization of $15.29 billion, with a price-to-earnings ratio of -39.25 and a beta of 1.22. The company’s 50-day moving average stands at $21.21, while the 200-day moving average is at $16.18.
Founded in 2014, Roivant Sciences focuses on developing and commercializing innovative therapies through a network of subsidiary businesses referred to as “Vants.” The company specializes in acquiring or in-licensing clinical-stage assets that have surpassed proof of concept, aiming to advance these assets towards regulatory approval efficiently. Roivant’s core areas of interest include neurology, rare diseases, immunology, oncology, and women’s health.
