# Roivant Sciences Ltd. (ROIV)

> Source: Nexqual · https://nexqual.com/ROIV · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Roivant Sciences Ltd. (ROIV), nexqual.com/ROIV" · informational, not investment advice.

**Price:** USD 37.45 (+1.77% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 36.8 · day 36.68–38.48 · 52w 17.89–42.5 · market cap $27.1B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $7.5M, net income -$266M (-3535.0% margin), free cash flow -$821M (SEC filings).
- 4 of 80 tracked superinvestors hold ROIV (13F, Q2 2026): 1 new, 1 added, 1 reduced, 1 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (13 analysts), mean target USD 48.91 (range 41–62).
- Total return with dividends: 1Y +106.7% vs S&P 500 +14.9%; 5Y +450.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-09, EPS estimate USD -0.45, revenue estimate $3.7M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $55.3M | $31.5M | $32.7M | $29.1M | $8.3M | $7.5M |
| Operating income | -$1.35B | -$907M | $4.50B | -$1.00B | -$515M | -$596M |
| Net income | -$845M | -$1.01B | $4.35B | -$172M | -$300M | -$266M |
| EPS (diluted) | -$1.26 | -$1.42 | $5.23 | -$0.24 | -$0.54 | — |
| Free cash flow | -$695M | -$856M | -$767M | -$844M | -$759M | -$821M |
| Operating margin | -2444.8% | -2875.9% | 13746.9% | -3453.3% | -6235.7% | -7914.8% |
| Net margin | -1528.9% | -3200.2% | 13294.2% | -592.0% | -3629.2% | -3535.0% |
| Revenue growth | +132.3% | -43.0% | +3.8% | -11.2% | -71.6% | — |
| Cash + short-term investments | $2.06B | $1.68B | $6.49B | $4.89B | $4.29B | — |
| Total debt | $210M | $416M | $443M | — | — | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 3591.5x · P/B 6.4x · FCF yield -3.04% · Earnings yield -0.98%
P/E at fiscal year-ends: Mar 2024 2.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
4 of 80 tracked investors hold ROIV. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Einhorn | Greenlight Capital | 1.95% | $76.2M | Unchanged |
| Lee Ainslie | Maverick Capital | 0.90% | $100M | Added +73.9% |
| Viking Global | Viking Global Investors | 0.63% | $222M | Reduced -5.7% |
| Polen Capital | Polen Capital Management | <0.01% | $306K | New position |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 13 analysts; mean target USD 48.91 (low 41, high 62).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Wolfe Research | Downgrade | Outperform → Peer Perform |  |
| 2026-09-17 | Stifel | Initiated | Buy | $51 |
| 2026-09-09 | TD Cowen | Target raised | Buy | $50 → $55 |
| 2026-09-09 | Guggenheim | Target raised | Buy | $42 → $46 |
| 2026-09-08 | HC Wainwright & Co. | Target raised | Buy | $41 → $47 |
| 2026-09-08 | Jefferies | Target raised | Buy | $42 → $52 |
| 2026-08-28 | HC Wainwright & Co. | Reiterated | Buy | $41 |
| 2026-08-10 | Citigroup | Target raised | Buy | $42 → $46 |
| 2026-08-07 | Guggenheim | Target raised | Buy | $36 → $42 |
| 2026-08-07 | HC Wainwright & Co. | Target raised | Buy | $34 → $41 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +106.7% | +450.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +107.2% | +40.5% |
| Volatility (annualized) | 45.2% | 52.1% |
| Max drawdown | -20.2% (Sep 2026→Oct 2026) | -75.0% (Dec 2021→Sep 2022) |

## Peers (Biotechnology)
GMAB (Genmab A/S) USD 40 +1.09% · ALNY (Alnylam Pharmaceuticals, Inc.) USD 227.28 +0.97% · INCY (Incyte Corporation) USD 116.93 +3.08% · BNTX (BioNTech SE) USD 89.67 -1.77% · INSM (Insmed Incorporated) USD 95.06 +1.08% · RPRX (Royalty Pharma plc) USD 63.75 +2.57%

## More
Full page: https://nexqual.com/ROIV · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ROIV's own 10-K filed 2026-05-20 (https://www.sec.gov/Archives/edgar/data/1635088/000163508826000061/roiv-20260331.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Arbutus Biopharma Corp (ABUS) | "See "—Vant License Agreements & Other Vant Agreements" for more information on the terms of the Cross-License Agreement between Genevant and Arbutus and the term "Royalty-Related Receipts."" |
| Partner | Pfizer (PFE) | "License and Collaboration Agreement with Pfizer, Inc." |
| Partner | Immunovant, Inc. (IMVT) | "•the fact that Immunovant relies on a license agreement with HanAll Biopharma Co., Ltd. to provide the rights to the core intellectual property relating to IMVT-1402 and batoclimab;" |
| Partner | HanAll Biopharma | "HanAll may disagree with our interpretation of the agreement or our actions thereunder, and we may be unable to reach an agreement with HanAll regarding the future of batoclimab." |
| Partner | Dermavant Sciences | "•realize the benefits of our strategic partnerships and other collaborations, including the Dermavant Transaction (as defined below);" |

Other companies that name ROIV in their own reports (relationship from ROIV's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Immunovant, Inc. (IMVT) | 10-K 2026-05-20 | "On December 19, 2017, Roivant Sciences GmbH ("RSG"), a wholly-owned subsidiary of RSL, entered into a license agreement (the "HanAll Agreement") with HanAll Biopharma Co., Ltd. ("HanAll")." |
| partner | Arbutus Biopharma Corp (ABUS) | 10-K 2026-03-23 | "In April 2018, we entered into an agreement with Roivant Sciences Ltd. (Roivant), our largest shareholder, to launch Genevant Sciences Ltd., a company focused on nucleic acid- and gene editing-based t…" |

## Company outlook (8-K filed 2026-08-06)

- "Major Upcoming Milestones • Priovant expects the commercial launch of brepocitinib in DM by the end of September 2026 and topline data from the Phase 3 study in NIU and Phase 3 study in CS in the second half of calendar year 2026 and calendar year 2028, respectively."
- "Roivant continues to actively explore other indications for brepocitinib. • Immunovant expects to report topline data from the proof-of-concept trial of IMVT-1402 in CLE and provide an update on the potentially registrational program of IMVT-1402 in D2T RA in the second half of calendar year 2026."
- "In calendar year 2027, topline data are expected across potentially registrational trials of IMVT-1402 in GD and MG."
- "In calendar year 2028, topline data are expected across potentially registrational trials of IMVT-1402 in CIDP and SjD. • Pulmovant expects to report topline data from the ongoing Phase 2 trial of mosliciguat in PH-ILD in the second half of calendar year 2026. • Genevant LNP litigation continues to progress."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.45 | $-0.40 | +13.6% | $3.7M | 3 |
| Next quarter (ends 2026-12-31) | $-0.41 | $-0.37 | +13.0% | $12.3M | 3 |
| Current fiscal year (ends 2027-03-31) | $-1.58 | $-1.50 | +5.7% | $52.1M | 3 |
| Next fiscal year (ends 2028-03-31) | $-1.72 | $-1.56 | +10.2% | $410.3M | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-09): ±13.0%; last 8 reports averaged ±6.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 57.5% | ±13.0% |
| 2026-12-18 | 56 | 54.8% | ±17.4% |
| 2027-01-15 | 84 | 48.8% | ±18.8% |
| 2027-02-19 | 119 | 43.5% | ±19.8% |
| 2027-05-21 | 210 | 46.6% | ±27.9% |
| 2027-06-17 | 237 | 47.0% | ±29.5% |
| 2027-08-20 | 301 | 44.3% | ±32.7% |
| 2027-11-19 | 392 | 44.4% | ±36.8% |