Piper Sandler assumed coverage of Roivant Sciences (ROIV) with an Overweight rating with a price target of $40, up from $22. The firm notes Roivant has traded up about 190%-plus over the last year driven by positive data and execution across brepocitinib’s development in dermatomyositis, non-infectious uveitis, and cutaneous sarcoidosis. As such, Piper believes brepocitinib has multi-blockbuster opportunities with potential dermatomyositis approval Q3 2026, pivotal Phase 3 CLARITY NIU data in the second half of 2026, Phase 3 CS initiation by year-end 2026, and expansion into lichen planopilaris.
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Read More on ROIV:
- Roivant Sciences price target raised to $34 from $30 at Jefferies
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- Bernstein bullish on Roivant Sciences, initiates with an Outperform
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