Royalty Pharma PLC (NASDAQ:RPRX) Receives Average Recommendation of “Buy” from Brokerages

Royalty Pharma PLC (NASDAQ:RPRX) has been given an average recommendation of “Buy” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $53.7143.

RPRX has been the subject of a number of research reports. Weiss Ratings lowered Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. UBS Group upped their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Citigroup raised their target price on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley lifted their target price on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th.

Insider Buying and Selling at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 64,399 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total transaction of $3,476,258.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.06, for a total transaction of $726,073.04. Following the completion of the transaction, the executive vice president owned 31,881 shares in the company, valued at approximately $1,691,605.86. This trade represents a 30.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 427,800 shares of company stock worth $23,333,723. 18.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Royalty Pharma

Several large investors have recently modified their holdings of RPRX. Morgan Stanley grew its holdings in shares of Royalty Pharma by 25.2% in the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after acquiring an additional 11,110,115 shares during the last quarter. Capital International Investors boosted its position in shares of Royalty Pharma by 24.4% in the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock valued at $960,064,000 after purchasing an additional 5,332,074 shares during the period. Norges Bank purchased a new position in Royalty Pharma in the 4th quarter worth about $131,923,000. Dorsey Asset Management LLC acquired a new stake in Royalty Pharma during the 3rd quarter worth about $82,924,000. Finally, Qube Research & Technologies Ltd raised its holdings in Royalty Pharma by 737.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock worth $87,557,000 after buying an additional 2,185,366 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Trading Down 0.7%

Shares of NASDAQ:RPRX opened at $57.96 on Friday. The company has a 50 day moving average of $54.21 and a 200-day moving average of $47.84. The firm has a market cap of $33.38 billion, a P/E ratio of 39.43, a P/E/G ratio of 1.60 and a beta of 0.43. Royalty Pharma has a twelve month low of $34.08 and a twelve month high of $58.84. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The business had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. As a group, analysts anticipate that Royalty Pharma will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.235 per share. The ex-dividend date was Friday, May 15th. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio (DPR) is 63.95%.

Royalty Pharma Company Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.