H.C. Wainwright raised the firm’s price target on Roivant Sciences (ROIV) to $34 from $33 and keeps a Buy rating on the shares. The firm added the company’s $2.25B in litigation proceeds to the model. Roivant announced that its subsidiary Genevant Sciences and Arbutus Biopharma have entered into a $2.25B global settlement with Moderna to resolve patent-infringement litigation related to Moderna’s use of Genevant/Arbutus LNP delivery technology in its COVID-19 vaccine, the analyst tells investors in a research note.
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: Strengthened Cash Position Post‑Moderna Settlement but Limited Upside Keeps Rating at Hold
- Roivant Subsidiary Reaches Major Global Patent Settlement
- Genevant, Arbutus announce $2.25B global settlement with Moderna
- Roivant’s Priovant Unit Gains FDA Priority Review for Brepocitinib
- Roivant Sciences announces U.S. FDA accepted its NDA for brepocitinib