Truist Securities Starts Roivant Sciences (ROIV) at Buy

October 26, 2021 6:09 AM EDT
Get Alerts ROIV Hot Sheet
Price: $3.95 +1.02%

Rating Summary:
    7 Buy, 1 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 13 | New: 20
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Truist Securities analyst Robyn Karnauskas initiates coverage on Roivant Sciences (NASDAQ: ROIV) with a Buy rating and a price target of $15.00.

The analyst commented, "Roivant’s novel business model underappreciated by investors, in our view; with their evolving AI technology platform and integrated drug discovery strategy, we see ROIV as a potential >$20B company in the longer-term. While at current levels, the stock is trading with credit to cash + $1B peak sales (likely to Dermavant), in the longer term, we could see significant growth supported by a sophisticated internal discovery and development engine. Key highlights – 1) Diversified across different therapeutic areas and modalities; 2) Well-capitalized with ~$2.4B in net cash; 3) Potentially best-in-class AI/ML based internal engines for discovery (VantAI); efficient clinical trial execution (Lokavant); and optimizing commercialization (Datavant); 4) Successful track record with 8/9 positive Phase 3 trials + approved drugs (Relugolix, etc); and 5) Successful monetization of subsidiary Vants as evidenced by the $3B deal for 5 Vants (including MYOV and UROV) with Sumitomo (8053-JP, NR) in late 2019."

For an analyst ratings summary and ratings history on Roivant Sciences click here. For more ratings news on Roivant Sciences click here.

Shares of Roivant Sciences closed at $7.04 yesterday.

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