Royalty Pharma (NASDAQ:RPRX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Royalty Pharma (NASDAQ:RPRXFree Report) from a hold rating to a buy rating in a research report released on Saturday morning.

RPRX has been the subject of several other research reports. Morgan Stanley began coverage on shares of Royalty Pharma in a research report on Friday, May 16th. They set an “overweight” rating and a $51.00 price target for the company. Citigroup restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Royalty Pharma currently has an average rating of “Buy” and a consensus target price of $47.33.

Read Our Latest Stock Analysis on Royalty Pharma

Royalty Pharma Trading Down 0.1%

Shares of Royalty Pharma stock opened at $34.86 on Friday. Royalty Pharma has a fifty-two week low of $24.05 and a fifty-two week high of $35.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a 50-day simple moving average of $33.14 and a two-hundred day simple moving average of $31.25. The company has a market cap of $19.60 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 1.79 and a beta of 0.48.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. As a group, equities analysts predict that Royalty Pharma will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.52%. Royalty Pharma’s payout ratio is 47.57%.

Institutional Trading of Royalty Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in RPRX. Vontobel Holding Ltd. acquired a new stake in shares of Royalty Pharma during the 4th quarter worth approximately $230,000. Allworth Financial LP increased its holdings in shares of Royalty Pharma by 417.6% during the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 877 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Royalty Pharma by 0.9% during the 4th quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company’s stock worth $1,068,000 after buying an additional 388 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Royalty Pharma by 4.1% during the 4th quarter. CIBC Asset Management Inc now owns 26,119 shares of the biopharmaceutical company’s stock worth $666,000 after buying an additional 1,028 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of Royalty Pharma during the 4th quarter worth approximately $371,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Company Profile

(Get Free Report)

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.

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