Leerink Partners analyst David Risinger has reiterated their bullish stance on ROIV stock, giving a Buy rating on April 21.
David Risinger has given his Buy rating due to a combination of factors including strategic and corporate updates at Roivant Sciences and its subsidiary, Immunovant. The management changes, with key roles being filled by experienced leaders from within Roivant, indicate a strategic transition aimed at increasing operational involvement and oversight. This shift is expected to enhance the execution of Immunovant’s focused development programs.
Additionally, the clearance of the IND for IMVT-1402, a second-generation FcRn, for a potentially registrational program in Sjögren’s disease and the initiation of a proof-of-concept study in cutaneous lupus erythematosus are significant milestones. These developments, along with a clear catalyst calendar and detailed development program plans, suggest a strong pipeline and potential for future growth, supporting the Buy rating.
According to TipRanks, Risinger is a 5-star analyst with an average return of 7.5% and a 52.54% success rate. Risinger covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Sanofi, and Vertex Pharmaceuticals.
In another report released on April 21, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $0.00 price target.