UPDATE: Goldman Sachs Starts Roivant Sciences (ROIV) at Buy

December 15, 2021 3:41 AM EST
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
Trade Now! 
Join SI Premium – FREE
(Updated - December 15, 2021 4:43 AM EST)

Goldman Sachs analyst Corinne Jenkins initiates coverage on Roivant Sciences (NASDAQ: ROIV) with a Buy rating and a price target of $15.00.

The analyst comments "We initiate ROIV with a Buy rating and 12-month price target of $15 (82% upside potential). ROIV is a clinical-stage company employing a hub-and-spoke approach to drug development wherein clinical assets are housed under distinct subsidiaries that are separately responsible for development and commercialization. We see considerable discovery value embedded in the ROIV subsidiaries, which we anticipate will be unlocked by key clinical and regulatory catalysts in the near-term. First up is the tapinarof PDUFA (2Q22) and launch in psoraisis, where we see the product profile driving significant market adoption, followed by Phase 3 data from the same asset in atopic dermatitis where we highlight physician awareness and enthusiasm following prior Phase 2 results. Several other agents currently in Phase 1/2 studies (e.g. ARU-1801, namilumab, batoclimab) will come to the forefront as they enter late-stage clinical development and underpin the next leg of growth for the stock. Separately, ROIV recently built through acquisition two discovery platforms focused at the intersection of protein degradation and computational/AI-enabled drug discovery. We expect these platforms (Roivant Discovery and Proteovant/VantAI) to drive long-term value for the company as agents enter the clinic and provide proof-of-concept for the platforms, with the first (ARD-1671) set to enter Phase 1 study in 2022."

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 $8.36 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Related Entities

Goldman Sachs, Definitive Agreement, PDUFA