Roivant Sciences price target raised to $20 from $18 at Jefferies

Jefferies raised the firm’s price target on Roivant Sciences (ROIV) to $20 from $18 and keeps a Buy rating on the shares. After “strong” Phase 3 dermatomyositis data, the firm was hearing “minimal pushback” on DM in investor inbounds, but said “rather nearly everyone has been asking about the LNP litigation.” On the latter, the firm says it is focused on the Moderna (MRNA) case, where the jury trial won’t be until March 2026, but the near term catalyst will be summary judgment and the judge’s decision on ‘1498 that could come over the next two months before November 7.