Roivant Sciences price target lowered to $13 from $15 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Roivant Sciences to $13 from $15 but keeps a Buy rating on the shares. The company’s $20.7M in Vtama sales was below consensus and the firm’s estimates, and while the depth and breadth of Vtama prescriptions continue to grow, the next meaningful inflection in sales will follow approval in atopic dermatitis, the analyst tells investors in a research note. The firm added however that the management views the current environment as supportive of business development, highlighting expectations to disclose multiple new deals this year.