TD Cowen analyst Yaron Werber has reiterated their bullish stance on ROIV stock, giving a Buy rating on February 3.
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Yaron Werber has given his Buy rating due to a combination of factors that highlight the promising future of Roivant Sciences. The firm has made significant strides with its pipeline, particularly with the development of IMVT-1402, which now has six active Investigational New Drug (IND) applications and two pivotal studies underway. These advancements are noteworthy as they show Roivant’s strategic positioning to inform the design of future pivotal trials. Although expectations for batoclimab’s Phase 3 data are tempered, this data will be crucial in shaping the future direction of IMVT-1402.
Additionally, Roivant’s foray into cutaneous sarcoidosis represents a strategic move with Phase 2 trials expected to commence soon. The potential for overlooked catalysts, such as legal proceedings that could lead to COVID-related royalties, further strengthens the opportunity for upside. With a new management bonus structure aligned with stock performance, there is a clear incentive for the company to retain rights to its promising assets, thus providing ample growth potential. These elements combined underscore Werber’s optimistic outlook on Roivant Sciences.
According to TipRanks, Werber is a 4-star analyst with an average return of 8.4% and a 50.54% success rate. Werber covers the Healthcare sector, focusing on stocks such as Amgen, Ultragenyx Pharmaceutical, and Genmab.
In another report released on February 3, J.P. Morgan also maintained a Buy rating on the stock with a $129.00 price target.