Goldman Sachs Resumes Roivant Sciences (ROIV) Coverage with ‘Buy’ Rating

Roivant Sciences Ltd. (NASDAQ:ROIV) is one of the best biotech stocks to buy according to billionaire Steve Cohen. On July 10, Goldman Sachs resumed coverage of the stock with a ‘Buy’ rating and a $19 price target.

Goldman Sachs Resumes Roivant Sciences (ROIV) Coverage with ‘Buy’ Rating

A close-up shot of various types of medicines on a table, illustrating the specialty and generic products offered by the pharmaceutical company.

The investment bank’s bullish outlook on the stock is based on the company’s strong clinical pipeline and potential market opportunities. The company’s subsidiary, Pulmovant, delivered positive Phase 1 data for mosliciguat, an inhaled treatment for pulmonary hypertension. In addition, the firm is optimistic about the anticipated positive results from the Phase 3 VALOR clinical trials.

The Buy rating follows the authorization of Roivant Sciences to repurchase $500 million in shares, following the completion of a previous $1.5 billion program. The new program underscores the company’s commitment to returning value to shareholders.

Roivant Sciences Ltd. (NASDAQ:ROIV) is a biotechnology company that develops and commercializes innovative medicines and technologies. Its clinical product candidates include IMVT-1402, an antibody that targets the neonatal Fc receptor for the treatment of Graves’ disease and difficult-to-treat rheumatoid arthritis.

While we acknowledge the potential of ROIV to grow, 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 this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.