Brokerages Set Royalty Pharma plc (NASDAQ:RPRX) Target Price at $43.00

Royalty Pharma plc (NASDAQ:RPRX) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $43.00.

A number of equities analysts have recently issued reports on RPRX shares. StockNews.com downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. UBS Group downgraded Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Monday, June 3rd. Finally, Bank of America decreased their price objective on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 12th.

Hedge Funds Weigh In On Royalty Pharma

Several hedge funds and other institutional investors have recently modified their holdings of RPRX. Fidelis Capital Partners LLC acquired a new position in Royalty Pharma during the 1st quarter valued at approximately $46,000. GAMMA Investing LLC lifted its position in Royalty Pharma by 172.5% during the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 1,037 shares during the period. Allworth Financial LP grew its stake in Royalty Pharma by 76.7% during the 4th quarter. Allworth Financial LP now owns 1,684 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 731 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Royalty Pharma by 79.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 802 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of Royalty Pharma by 485.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 1,999 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Trading Down 1.1 %

RPRX opened at $26.37 on Wednesday. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $27.36 and its two-hundred day moving average is $28.50. The company has a market capitalization of $15.75 billion, a P/E ratio of 19.68, a PEG ratio of 3.47 and a beta of 0.47. Royalty Pharma has a 52 week low of $25.92 and a 52 week high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. Royalty Pharma had a return on equity of 22.94% and a net margin of 35.70%. The firm had revenue of $568.00 million for the quarter, compared to analyst estimates of $671.45 million. During the same quarter last year, the firm posted $1.60 earnings per share. Analysts forecast that Royalty Pharma will post 4.03 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 3.19%. Royalty Pharma’s dividend payout ratio (DPR) is 62.69%.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.