JPMorgan's Take on Roivant Sciences (ROIV) Buyback and Positive Data Annoucement
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April 2, 2024 8:04 AM EDT
Truist Securities analyst Robyn Karnauskas reiterated a Buy rating and $23.00 price target on Roivant Sciences (NASDAQ: ROIV), saying positive brepocitinib data supports potential success in NIU.
The analyst commented, "We believe Roivant shares could be up today following announcement of positive Ph2 results for... More
April 2, 2024 7:02 AM EDT
Roivant (Nasdaq: ROIV) and Priovant Therapeutics today announced positive results from the Phase 2 study (NEPTUNE) evaluating brepocitinib in non-anterior non-infectious uveitis (NIU), showing the strongest efficacy data in NIU observed to date. Roivant also announced that its board of directors has authorized a share repurchase program for up to $1.5 billion of the companys common shares, including the repurchase of all 71.3 million shares held by Sumitomo Pharma at a purchase price of $9.10 per share. The aggregate purchase price for the Sumitomo Pharma transaction is approximately $648.4 million and will reduce Roivants shares outstanding as of February 9, 2024... More
