Jefferies analyst Dennis Ding raised the firm’s price target on Roivant Sciences (ROIV) to $34 from $30 and keeps a Buy rating on the shares. A key question post the Moderna (MRNA) settlement was the probability Moderna wins the ‘1498 appeal, which would impact the $1.3B payment, the analyst stated. While initially at 25% odds that Moderna wins, the firm changed its view of the probability to 75% Moderna wins, the analyst noted. The firm is formally including the LNP litigation in its Roivant model, driving its revised target.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ROIV:
- Roivant Advances Brepocitinib Program, Refocuses Autoimmune Portfolio
- Roivant reports new clinical program for brepocitinib in lichen planopilaris
- Bernstein bullish on Roivant Sciences, initiates with an Outperform
- Roivant Sciences initiated with an Outperform at Bernstein
- Roivant Sciences price target raised to $33 from $31 at JPMorgan