Brokerages Set Royalty Pharma plc (NASDAQ:RPRX) Price Target at $41.67

Royalty Pharma plc (NASDAQ:RPRX) has received a consensus rating of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $41.67.

Several research analysts have recently commented on the company. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. Finally, Citigroup dropped their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $30.03 on Friday. The company has a market cap of $17.69 billion, a P/E ratio of 15.56, a P/E/G ratio of 4.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. Royalty Pharma has a 52-week low of $24.05 and a 52-week high of $31.66. The stock’s 50-day simple moving average is $26.05 and its 200 day simple moving average is $27.09.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, February 21st. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is 45.60%.

Institutional Trading of Royalty Pharma

A number of institutional investors have recently bought and sold shares of RPRX. Blue Trust Inc. boosted its stake in Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 943 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Royalty Pharma during the third quarter worth $61,000. GAMMA Investing LLC boosted its holdings in shares of Royalty Pharma by 31.4% in the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 590 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 655 shares during the period. Finally, Transamerica Financial Advisors Inc. raised its stake in shares of Royalty Pharma by 99.9% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company’s stock valued at $98,000 after buying an additional 1,729 shares during the period. Institutional investors own 54.35% of the company’s stock.

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.