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H.C. Wainwright Thinks Roivant Sciences’ Stock is Going to Recover

H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating on Roivant Sciences (ROIVResearch Report) today and set a price target of $14.00. The company’s shares closed last Wednesday at $4.49, close to its 52-week low of $2.52.

According to TipRanks.com, Tsao is a 2-star analyst with an average return of 0.0% and a 37.3% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Cerevel Therapeutics Holdings, and Praxis Precision Medicines.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Roivant Sciences with a $11.80 average price target, implying a 144.3% upside from current levels. In a report issued on June 28, Citigroup also maintained a Buy rating on the stock with a $9.00 price target.

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Based on Roivant Sciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $24.34 million and GAAP net loss of $285 million. In comparison, last year the company earned revenue of $1.32 million and had a GAAP net loss of $35.4 million.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ROIV in relation to earlier this year.

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Montes Archimedes Acquisition Corp is a blank check company.

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