Royalty Pharma PLC (NASDAQ:RPRX) Stock Has Consensus Target Price of $61.57 According to Brokerages

Shares of Royalty Pharma PLC (NASDAQ:RPRX) have received a consensus recommendation of “Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $61.57.

A number of research firms have recently issued reports on RPRX. Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. TD Cowen boosted their price target on shares of Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Morgan Stanley upped their price objective on shares of Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Wall Street Zen cut shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $66.00 price objective on shares of Royalty Pharma in a report on Thursday, August 6th.

Insider Activity at Royalty Pharma

In related news, EVP Marshall Urist sold 4,126 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $57.10, for a total value of $235,594.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the transaction, the executive vice president owned 270,401 shares in the company, valued at approximately $15,826,570.53. The trade was a 27.00% 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 have sold 208,252 shares of company stock worth $12,324,407. Insiders own 18.84% of the company’s stock.

Hedge Funds Weigh In On Royalty Pharma

A number of institutional investors have recently bought and sold shares of the company. LM Advisors LLC acquired a new stake in shares of Royalty Pharma during the 4th quarter worth approximately $26,000. Blue Trust Inc. raised its position in shares of Royalty Pharma by 173.4% during the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 437 shares during the period. CoreCap Advisors LLC raised its position in shares of Royalty Pharma by 89.2% during the 2nd quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 413 shares during the period. Bessemer Group Inc. raised its holdings in Royalty Pharma by 34.7% in the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 282 shares during the period. Finally, IFP Advisors Inc raised its holdings in Royalty Pharma by 263.3% in the 2nd quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 861 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Down 1.1%

Shares of RPRX opened at $60.27 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. Royalty Pharma has a one year low of $35.92 and a one year high of $64.38. The stock has a market capitalization of $34.66 billion, a price-to-earnings ratio of 41.57, a PEG ratio of 1.67 and a beta of 0.42. The stock has a 50 day moving average price of $59.47 and a 200 day moving average price of $55.86.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. The firm had revenue of $674.14 million during the quarter, compared to the consensus estimate of $758.93 million. Equities research analysts forecast that Royalty Pharma will post 5.29 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.2350 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s payout ratio is currently 64.83%.

About Royalty Pharma

Royalty Pharma plc (NASDAQ:RPRX) is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.