Citigroup Trims Royalty Pharma (NASDAQ:RPRX) Target Price to $40.00

Royalty Pharma (NASDAQ:RPRX) had its price objective cut by analysts at Citigroup from $60.00 to $40.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s price target suggests a potential upside of 48.42% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley lifted their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group increased their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Stock Down 1.2 %

Shares of RPRX opened at $26.95 on Friday. 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 company has a 50-day moving average price of $28.02 and a two-hundred day moving average price of $27.61. The stock has a market cap of $16.10 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 4.03 and a beta of 0.46. Royalty Pharma has a 12 month low of $25.20 and a 12 month high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The business had revenue of $537.00 million for the quarter, compared to analyst estimates of $600.83 million. During the same quarter in the previous year, the firm earned $0.85 EPS. Equities analysts predict that Royalty Pharma will post 4.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Royalty Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in RPRX. PNC Financial Services Group Inc. boosted its holdings in Royalty Pharma by 98.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,947 shares of the biopharmaceutical company’s stock valued at $308,000 after acquiring an additional 5,438 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Royalty Pharma by 4,335.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,750 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 2,688 shares during the last quarter. New Century Financial Group LLC acquired a new stake in shares of Royalty Pharma during the 1st quarter worth approximately $1,091,000. Principal Financial Group Inc. grew its position in shares of Royalty Pharma by 34.6% during the 1st quarter. Principal Financial Group Inc. now owns 31,485 shares of the biopharmaceutical company’s stock worth $956,000 after buying an additional 8,086 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new position in Royalty Pharma in the first quarter valued at approximately $542,000. 54.35% of the stock is owned by institutional investors and hedge funds.

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.