Royalty Pharma (NASDAQ:RPRX) Upgraded at Wall Street Zen

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

Several other brokerages also recently weighed in on RPRX. Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. The Goldman Sachs Group began coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price for the company. Morgan Stanley decreased their target price on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Finally, Citigroup upped their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $46.00.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $37.30 on Friday. Royalty Pharma has a 52-week low of $24.05 and a 52-week high of $38.00. The firm has a fifty day moving average of $36.22 and a 200-day moving average of $35.27. The firm has a market capitalization of $21.75 billion, a P/E ratio of 21.56, a PEG ratio of 2.06 and a beta of 0.56. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The company had revenue of $578.67 million during the quarter, compared to analyst estimates of $750.06 million. As a group, analysts predict that Royalty Pharma will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 14th. Royalty Pharma’s dividend payout ratio (DPR) is currently 50.87%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RPRX. Wealth Enhancement Advisory Services LLC grew its holdings in Royalty Pharma by 69.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,360 shares of the biopharmaceutical company’s stock worth $509,000 after acquiring an additional 6,700 shares in the last quarter. Amalgamated Bank lifted its position in shares of Royalty Pharma by 4.4% in the 1st quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company’s stock worth $636,000 after buying an additional 866 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Royalty Pharma by 48.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,798 shares of the biopharmaceutical company’s stock worth $1,301,000 after buying an additional 13,615 shares during the last quarter. Keybank National Association OH lifted its position in shares of Royalty Pharma by 16.6% in the 1st quarter. Keybank National Association OH now owns 32,818 shares of the biopharmaceutical company’s stock worth $1,022,000 after buying an additional 4,666 shares during the last quarter. Finally, GF Fund Management CO. LTD. lifted its position in shares of Royalty Pharma by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 11,377 shares of the biopharmaceutical company’s stock worth $354,000 after buying an additional 2,048 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Company Profile

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.