Roivant Sciences price target lowered to $12 from $13 at BofA

BofA lowered the firm’s price target on Roivant Sciences (ROIV) to $12 from $13 and keeps a Neutral rating on the shares. The fiscal Q3 call was “relatively uneventful” besides an announcement for initiating a Phase 2 trial for brepocitinib in cutaneous sarcoidosis, the analyst tells investors. The firm continues like the opportunity sets for IMVT-1402, but sees the rest of Roivant’s (ROIV) pipeline as relatively early, says the analyst, who views Roivant and Immunovant (IMVT) as “tightly linked to 2025 pipeline updates” for first-generation FcRn drug batoclimab given that Roivant now owns 57% of Immunovant.