StockNews.com Downgrades Royalty Pharma (NASDAQ:RPRX) to Hold

Royalty Pharma (NASDAQ:RPRX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

RPRX has been the topic of a number of other reports. Morgan Stanley lifted their price target on Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. The Goldman Sachs Group boosted their target price on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, UBS Group cut Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a research report on Monday, June 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.00.

Royalty Pharma Stock Up 0.5 %

Royalty Pharma stock traded up $0.13 during mid-day trading on Thursday, reaching $27.73. The stock had a trading volume of 4,108,790 shares, compared to its average volume of 2,749,004. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35. Royalty Pharma has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The stock’s 50-day simple moving average is $27.13 and its 200-day simple moving average is $28.23. The firm has a market capitalization of $16.46 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 4.01 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The company had revenue of $537.00 million for the quarter, compared to analyst estimates of $600.83 million. During the same quarter last year, the company earned $0.85 earnings per share. On average, sell-side analysts forecast that Royalty Pharma will post 4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Royalty Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in shares of Royalty Pharma by 5,215.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 1,043 shares during the period. Gladius Capital Management LP purchased a new stake in Royalty Pharma in the 2nd quarter worth $32,000. Fidelis Capital Partners LLC purchased a new stake in Royalty Pharma in the 1st quarter worth $46,000. GAMMA Investing LLC grew its position in shares of Royalty Pharma by 172.5% during the first quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 1,037 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Royalty Pharma by 79.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 802 shares in the last quarter. 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.