Roivant Sciences Shares Rise After Positive PH-ILD Trial Results
Roivant Sciences (NASDAQ:ROIV) reached a new all-time high after positive results from its Phase 2 clinical trial for mosliciguat, a treatment candidate for pulmonary hypertension associated with interstitial lung disease. The drug reduced pulmonary vascular resistance by 56.3% compared to the placebo group and improved patients' six-minute walking distance. These findings have significant revenue potential given the lack of approved treatments in this area. The company has now advanced mosliciguat into Phase 3 trials, with Jefferies raising its price target from $42 to $52 while maintaining a 'buy' recommendation. The firm is optimistic about peak sales exceeding $5 billion across multiple indications if the drug proves successful. Institutional confidence in Roivant has also grown: hedge fund holdings increased by 41% quarter-on-quarter, reaching $4.95 billion with 64 funds holding positions as of Q2.
Tickers: $ROIV