H.C. Wainwright Keeps Buy Rating on Roivant Sciences (ROIV) Stock

On May 28, H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating on Roivant Sciences Ltd. (NASDAQ:ROIV) while keeping the price target the same at $18.

The reiteration comes after the company appointed the current President and COO of Roivant, Dr. Eric Venker as CEO of Immunovant. Roivant Sciences Ltd. (NASDAQ:ROIV) is the founding parent and majority shareholder of Immunovant.

In April, the company appointed Dr. Erin Venker, M.D. as CEO of Immunovant and Tiago Girao. The analyst expects this leadership change to enhance clinical execution and strategic decision-making. Tsao believes the change will accelerate the development of the company's lead FcRn inhibitor, IMVT-1402.

Additionally, IMVT-1402 is being developed for multiple high-value autoimmune indications including Graves Disease, rheumatoid arthritis, Sjögren’s Disease, and more. Tsao anticipates the approval of IMVT-1402 will enhance the strategic and financial prospects of the company thereby justifying the Buy rating.

Roivant Sciences Ltd. (NASDAQ:ROIV) is a commercial-stage biopharmaceutical company that develops treatments for unmet medical needs. Its key products include VTAMA, IMVT-1402, Batoclimab, Brepocitinib, Mosliciguat, and Namilumab.

While we acknowledge the potential of ROIV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ROIV and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None.