Royalty Pharma (NASDAQ:RPRX) Lowered to Buy Rating by Wall Street Zen

Royalty Pharma (NASDAQ:RPRX) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Several other analysts have also weighed in on the company. TD Cowen lowered Royalty Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Weiss Ratings cut Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Morgan Stanley decreased their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Finally, The Goldman Sachs Group began coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $40.18 on Friday. The firm’s 50-day moving average is $37.46 and its 200-day moving average is $36.13. The company has a market cap of $23.19 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 2.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. Royalty Pharma has a 52-week low of $24.05 and a 52-week high of $41.24.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%.The business had revenue of $609.29 million for the quarter, compared to the consensus estimate of $765.01 million. Equities research analysts anticipate that Royalty Pharma will post 4.49 earnings per share for the current year.

Insider Transactions at Royalty Pharma

In other Royalty Pharma news, EVP George W. Lloyd sold 132,426 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $38.34, for a total transaction of $5,077,212.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Terrance P. Coyne sold 69,594 shares of Royalty Pharma stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $39.30, for a total transaction of $2,735,044.20. Following the completion of the transaction, the chief financial officer owned 54,760 shares of the company’s stock, valued at $2,152,068. This trade represents a 55.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 344,196 shares of company stock worth $13,344,707. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Capital International Investors raised its holdings in Royalty Pharma by 24.4% during the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after purchasing an additional 5,332,074 shares during the last quarter. Swedbank AB grew its position in shares of Royalty Pharma by 0.4% during the 3rd quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock worth $430,426,000 after buying an additional 42,800 shares during the period. State Street Corp raised its stake in shares of Royalty Pharma by 0.8% during the third quarter. State Street Corp now owns 10,272,753 shares of the biopharmaceutical company’s stock worth $362,423,000 after buying an additional 77,815 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Royalty Pharma by 2.2% during the second quarter. Geode Capital Management LLC now owns 8,176,504 shares of the biopharmaceutical company’s stock worth $299,494,000 after buying an additional 177,036 shares during the last quarter. Finally, Norges Bank acquired a new position in Royalty Pharma in the second quarter valued at approximately $181,388,000. 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.