Roivant Sciences (NASDAQ:ROIV) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Roivant Sciences (NASDAQ:ROIV) announced its quarterly earnings results on Monday. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04, Zacks reports. Roivant Sciences had a negative return on equity of 14.65% and a net margin of 3,827.42%.

Roivant Sciences Stock Down 2.8 %

Roivant Sciences stock opened at $10.49 on Wednesday. Roivant Sciences has a 52 week low of $9.76 and a 52 week high of $13.06. The business has a 50-day simple moving average of $11.48 and a 200 day simple moving average of $11.60. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 1.86 and a beta of 1.25.

Insider Buying and Selling

In other news, Director Sciences Ltd. Roivant purchased 16,845,010 shares of the company’s stock in a transaction on Monday, January 13th. The stock was purchased at an average price of $20.00 per share, with a total value of $336,900,200.00. Following the completion of the purchase, the director now directly owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. This trade represents a 21.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $11.28, for a total value of $1,128,000.00. Following the sale, the chief operating officer now directly owns 732,294 shares of the company’s stock, valued at approximately $8,260,276.32. This trade represents a 12.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,942,629 shares of company stock worth $23,034,486 over the last ninety days. 7.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a research report on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research report on Tuesday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $17.93.

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.