Roivant Sciences Ltd: Why Investors Shouldn’t Get Rid Of ROIV Stock In 2024

In the last trading session, 64.41 million shares of the Roivant Sciences Ltd (NASDAQ:ROIV) were traded, and its beta was 1.35. Most recently the company’s share price was $10.54, and it changed around -$0.3 or -2.77% from the last close, which brings the market valuation of the company to $8.49B. ROIV currently trades at a discount to its 52-week high of $13.24, offering almost -25.62% off that amount. The share price’s 52-week low was $6.97, which indicates that the current value has risen by an impressive 33.87% since then. We note from Roivant Sciences Ltd’s average daily trading volume that its 10-day average is 14.23 million shares, with the 3-month average coming to 5.70 million.

Roivant Sciences Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.15. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 1 recommended ROIV as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Roivant Sciences Ltd is expected to report earnings per share of -$0.3 for the current quarter.

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Roivant Sciences Ltd (NASDAQ:ROIV) trade information

Instantly ROIV has showed a red trend with a performance of -2.77% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -6.14% year-to-date, but still up 2.73% over the last five days. On the other hand, Roivant Sciences Ltd (NASDAQ:ROIV) is -9.99% down in the 30-day period. We can see from the shorts that 31.57 million shares have been sold at a short interest cover period of 6.07 day(s).

The consensus price target as assigned by Wall Street analysts is $13.33, which translates to bulls needing to increase their stock price by 20.93% from its current value. Analyst projections state that ROIV is forecast to be at a low of $10 and a high of $16.

Roivant Sciences Ltd (ROIV) estimates and forecasts

Roivant Sciences Ltd share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -20.09 percent over the past six months and at a 34.81% annual growth rate that is well above the industry average of 13.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -50.00% in revenue this quarter, and will report a decrease of -10.50% in the next quarter. The year-over-year growth rate is expected to be 136.80%, up from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $33.28 million in revenue for the current quarter. 8 analysts expect Roivant Sciences Ltd to make $47.61 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $27.38 million and $25.07 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 21.60%. Forecasts for the next quarter put sales growth at 89.90%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 21.79%.

ROIV Dividends

Roivant Sciences Ltd’s next quarterly earnings report is expected to be released around June 26 and July 01.

Roivant Sciences Ltd (NASDAQ:ROIV)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 29.40% of Roivant Sciences Ltd shares, and 62.06% of them are in the hands of institutional investors. The stock currently has a share float of 87.90%. Roivant Sciences Ltd stock is held by 311 institutions, with QVT Financial LP being the largest institutional investor. By Dec 30, 2023, it held 13.97% of the shares, which is about 112.54 million shares worth $1.19 billion.

SB Investment Advisers (UK) LTD, with 9.06% or 73.03 million shares worth $769.75 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Fidelity Growth Company Fund and Vanguard Specialized-Health Care Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 10.85 million shares worth $114.31 million, making up 1.35% of all outstanding shares. On the other hand, Vanguard Specialized-Health Care Fund held roughly 9.57 million shares worth around $100.89 million, which represents about 1.19% of the total shares outstanding.