Zacks: Brokerages Expect Roivant Sciences Ltd. (NASDAQ:ROIV) Will Announce Quarterly Sales of $15.41 Million

Analysts forecast that Roivant Sciences Ltd. (NASDAQ:ROIVGet Rating) will post sales of $15.41 million for the current quarter, Zacks reports. Two analysts have issued estimates for Roivant Sciences’ earnings. The highest sales estimate is $24.83 million and the lowest is $6.00 million. The business is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Roivant Sciences will report full-year sales of $61.02 million for the current financial year, with estimates ranging from $51.10 million to $70.89 million. For the next financial year, analysts anticipate that the business will post sales of $52.16 million, with estimates ranging from $8.40 million to $134.25 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Roivant Sciences.

Roivant Sciences (NASDAQ:ROIVGet Rating) last released its quarterly earnings data on Monday, February 14th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.18). The firm had revenue of $24.34 million for the quarter, compared to the consensus estimate of $10.13 million.

Separately, Zacks Investment Research downgraded shares of Roivant Sciences from a “hold” rating to a “sell” rating in a report on Friday, February 18th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Roivant Sciences has an average rating of “Buy” and an average target price of $12.67.

Shares of NASDAQ:ROIV traded up $0.17 during midday trading on Friday, reaching $4.00. 16,194 shares of the company’s stock were exchanged, compared to its average volume of 385,385. Roivant Sciences has a 12 month low of $3.73 and a 12 month high of $16.76. The company’s 50 day simple moving average is $5.45 and its two-hundred day simple moving average is $7.66.

In other Roivant Sciences news, CEO Matthew Gline sold 92,324 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $5.52, for a total value of $509,628.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eric Venker sold 80,045 shares of the stock in a transaction on Friday, March 25th. The stock was sold at an average price of $5.06, for a total transaction of $405,027.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 357,794 shares of company stock valued at $1,848,008.

Several hedge funds have recently modified their holdings of the company. SB Investment Advisers UK Ltd. bought a new stake in shares of Roivant Sciences during the fourth quarter worth $1,001,706,000. BlackRock Inc. bought a new position in Roivant Sciences in the fourth quarter valued at $39,585,000. Geode Capital Management LLC bought a new position in Roivant Sciences in the fourth quarter valued at $11,694,000. Eventide Asset Management LLC bought a new position in Roivant Sciences in the fourth quarter valued at $6,703,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Roivant Sciences in the fourth quarter valued at $6,967,000. 16.63% of the stock is owned by institutional investors.

About Roivant Sciences (Get Rating)

Roivant Sciences Ltd., a biopharmaceutical and healthcare technology company that researches and develops medicines. The company develops product candidates for the treatment of various therapeutics, including solid tumors, sickle cell diseases, hypophosphatasia, oncologic malignancies, psoriasis, atopic dermatitis, vitiligo, hyperhidrosis, acne, myasthenia gravis, warm autoimmune hemolytic anemia, thyroid eye diseases, sarcoidosis, and staph aureus bacteremia.

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