Sell-side analyst upgrades on Roivant Sciences (NASDAQ: ROIV) continued through Wednesday-Thursday September 9-10, 2026 following the Tuesday September 8 Pulmovant Phase 2 PHocus win in pulmonary hypertension associated with interstitial lung disease. TD Cowen raised its ROIV price target to $55 from $50 with a Buy rating; Jefferies raised to $52 from $42 with a Buy rating. These upgrades follow the Guggenheim ($46 from $42) and Piper Sandler ($55 from $40) targets published Wednesday September 9. Guggenheim estimated peak sales of approximately $3 billion in PH-ILD. Consensus analyst estimates now cluster around a $50-55 target range. The PHocus study achieved a 56.3% placebo-adjusted reduction in pulmonary vascular resistance at Week 16 (p<0.0001) with placebo-adjusted improvements of +35.2 meters six-minute walk distance and −53.2% NT-proBNP from baseline. The Phase 3 PHrontier study is enrolling approximately 375 patients globally in a 1:1 randomized double-blind placebo-controlled design.
Sell-side analysts moved fast Wednesday September 9, 2026 following Tuesday's positive Phase 2 PHocus readout from Roivant Sciences (NASDAQ: ROIV) subsidiary Pulmovant. Guggenheim raised its ROIV price target to $46 from $42 while maintaining a Buy rating, and Guggenheim estimated peak sales of approximately $3 billion in pulmonary hypertension associated with interstitial lung disease. Piper Sandler analyst Yasmeen Rahimi raised her price target to $55 from $40 with an Overweight rating. Roivant shares closed up approximately 17% Tuesday on the ERS Congress presentation of a 56.3% placebo-adjusted reduction in pulmonary vascular resistance at Week 16 (p<0.0001), plus placebo-adjusted improvements of +35.2 meters six-minute walk distance and −357.7 pg/mL NT-proBNP (−53.2% from baseline). The Phase 3 PHrontier study in approximately 375 patients is enrolling. If PHrontier confirms the Phase 2 signal, mosliciguat would land in a PH-ILD market currently anchored by United Therapeutics' Tyvaso (treprostinil) — the only FDA-approved therapy specifically for PH-ILD — with orally-administered Merck Winrevair (sotatercept) as a pulmonary arterial hypertension option positioned differently.
Pulmovant, a Roivant Sciences (NASDAQ: ROIV) company, announced Tuesday September 8, 2026 that the Phase 2 PHocus study of inhaled mosliciguat (a once-daily first-in-class inhaled soluble guanylate cyclase activator) met its primary endpoint in patients with pulmonary hypertension associated with interstitial lung disease. Placebo-adjusted pulmonary vascular resistance reduction was 56.3% at Week 16 (-51.3% mosliciguat vs +6.6% placebo, p<0.0001) — the largest PVR reduction reported in any randomized controlled pulmonary hypertension trial per Pulmovant. Secondary endpoints: placebo-adjusted six-minute walk distance +35.2 meters (p=0.0027) and NT-proBNP -357.7 pg/mL, a 53.2% reduction from baseline (p=0.0002). At Week 24 (exploratory), 6MWD was +52.7 meters placebo-adjusted and NT-proBNP was -487.1 pg/mL (-75.9%). Mosliciguat was well-tolerated with lower cough incidence (12.1%) than placebo (18.2%). The trial enrolled 135 patients across 87 sites in 20 countries. The Phase 3 PHrontier study is enrolling approximately 375 patients globally in a 1:1 randomized double-blind placebo-controlled design. Marc Humbert (Université Paris-Saclay) presented the data at the ERS Congress in Barcelona; Roivant shares closed up approximately 17% on the day. Mosliciguat activates sGC independently of heme and nitric oxide, differentiating it from sGC stimulators like riociguat.
Roivant Sciences (NASDAQ: ROIV) and its Pulmovant subsidiary announced Sunday September 6, 2026 that Phase 2 PHocus topline results for mosliciguat (a once-daily inhaled soluble guanylate cyclase activator) in pulmonary hypertension associated with interstitial lung disease (PH-ILD) will be presented Tuesday September 8, 2026 at 12:15 CEST (6:15 a.m. ET) at the European Respiratory Society Congress 2026 in Barcelona by Marc Humbert MD PhD (Université Paris-Saclay; French National Reference Center for Pulmonary Hypertension). The randomized double-blind placebo-controlled global trial enrolled 135 adults with PH-ILD; the primary endpoint is change from baseline in pulmonary vascular resistance at week 16, with the controlled period running through week 24. Roivant will host an investor call at 8:00 a.m. ET the same day. Mosliciguat is an sGC activator that works independently of heme and nitric oxide, differentiating it from sGC stimulators like riociguat. In the earlier Phase 1b ATMOS study a single inhaled dose produced a mean peak reduction in pulmonary vascular resistance of up to 38%. The PVR change versus placebo is the metric investors are watching; the same endpoint anchored the Phase 3 program for United Therapeutics' Tyvaso (treprostinil) in PH-ILD.