5 Best Medical Stocks to Buy Under $30

3. Roivant Sciences Ltd. (NASDAQ:ROIV)

Roivant Sciences Ltd. (NASDAQ:ROIV) is one of the best medical stocks to buy under $30. On April 16, Piper Sandler assumed coverage of Roivant Sciences Ltd. (NASDAQ:ROIV) with an Overweight rating on the stock and $40 price target.

Piper Sandler said the stock has gained more than 190% over the past year, supported by positive data and execution across brepocitinib’s development in dermatomyositis, non-infectious uveitis, and cutaneous sarcoidosis. The research firm believes that brepocitinib has multi-blockbuster opportunities. It expects a possible dermatomyositis approval in the third quarter of 2026, Phase 3 CLARITY non-infectious uveitis (NIU) data in the second half of 2026, and the start of a Phase 3 study for cutaneous sarcoidosis by year-end 2026. Piper Sandler also pointed to expansion into lichen planopilaris.

Earlier, on March 20, Bernstein initiated coverage of Roivant Sciences Ltd. (NASDAQ:ROIV) with an Outperform rating and a price target of $35.

The research firm highlighted potential upside from upcoming readouts in Pulmonary Hypertension associated with Interstitial Lung Disease and Non-Infectious Uveitis. Despite this, Bernstein pointed to key risks, including negative results for brepocitinib if Vygart Phase 3 in Dermatomyositis seems better and a softer-than-expected launch for brepocitinib. The research firm noted that these risks are already appropriately discounted.

Roivant Sciences Ltd. (NASDAQ:ROIV) is an American biopharmaceutical company that focuses on improving drug development and commercialization through innovative technology. The company operates a unique model where it creates subsidiaries, known as “Vants,” to develop and commercialize a variety of medicines and technologies.