Royalty Pharma (NASDAQ:RPRX) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Royalty Pharma (NASDAQ:RPRX) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

A number of other brokerages have also issued reports on RPRX. The Goldman Sachs Group lifted their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a buy rating in a research note on Wednesday, August 14th. UBS Group cut Royalty Pharma from a buy rating to a neutral rating and set a $28.00 price objective for the company. in a research report on Monday, June 3rd. Finally, Morgan Stanley upped their target price on Royalty Pharma from $48.00 to $51.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $42.00.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $29.03 on Friday. Royalty Pharma has a 12 month low of $25.20 and a 12 month high of $31.66. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78. The stock has a market cap of $17.34 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 4.01 and a beta of 0.46. The business has a fifty day simple moving average of $27.38 and a 200-day simple moving average of $28.22.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $537.00 million during the quarter, compared to analyst estimates of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same period last year, the company posted $0.85 EPS. On average, sell-side analysts anticipate that Royalty Pharma will post 4.04 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 16th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, August 16th. Royalty Pharma’s dividend payout ratio is presently 62.69%.

Hedge Funds Weigh In On Royalty Pharma

Institutional investors have recently bought and sold shares of the stock. Ballentine Partners LLC increased its holdings in shares of Royalty Pharma by 3.3% during the 1st quarter. Ballentine Partners LLC now owns 12,541 shares of the biopharmaceutical company’s stock valued at $381,000 after acquiring an additional 406 shares during the last quarter. NEOS Investment Management LLC raised its position in shares of Royalty Pharma by 5.0% in the fourth quarter. NEOS Investment Management LLC now owns 8,589 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 409 shares during the period. Xponance Inc. lifted its stake in shares of Royalty Pharma by 1.9% in the second quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock worth $836,000 after buying an additional 606 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 655 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Royalty Pharma by 10.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,097 shares of the biopharmaceutical company’s stock worth $276,000 after buying an additional 887 shares during the period. 54.35% of the stock is currently owned by institutional investors.

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.