Roivant’s Price Target Raised to $38 as Brepocitinib Shows Positive Phase 2 Results
TD Cowen raised Roivant Sciences’ price target to $38 from $28 while maintaining a Buy rating following its February 6 update. The company reported positive Phase 2 brepocitinib results in cutaneous sarcoidosis and held $4.5 billion cash to fund operations into profitability.
1. Price Target Revision and Bullish Rating
TD Cowen maintained its Buy rating on Roivant Sciences, boosting the price target to $38 from $28 on February 6 based on recent clinical progress and financial position.
2. Brepocitinib Phase 2 Cutaneous Sarcoidosis Data
Roivant’s brepocitinib 45 mg dose delivered substantial, rapid, deep, and sustained improvements in cutaneous sarcoidosis disease activity across all efficacy endpoints with a consistent safety profile.
3. Pipeline Expansion and Regulatory Filings
The company submitted an NDA for brepocitinib in dermatomyositis and expects topline Phase 3 results in non-infectious uveitis during H2 2026, while exploring additional indications.
4. Strong Financial Position
As of December 31, 2025, Roivant held $4.5 billion in cash, cash equivalents, restricted cash, and marketable securities, supporting its cash runway into profitability.