Royalty Pharma (NASDAQ:RPRX) Stock Price Expected to Rise, Citigroup Analyst Says

Royalty Pharma (NASDAQ:RPRX) had its price target hoisted by Citigroup from $70.00 to $78.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup‘s target price points to a potential upside of 15.90% from the company’s current price.

A number of other equities research analysts have also issued reports on RPRX. Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th. Morgan Stanley boosted their price target on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Weiss Ratings raised Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. Finally, Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $63.29.

Royalty Pharma Trading Down 0.4%

NASDAQ RPRX traded down $0.27 during trading on Thursday, hitting $67.30. The stock had a trading volume of 4,835,293 shares, compared to its average volume of 3,199,374. The company has a market capitalization of $38.70 billion, a PE ratio of 56.08, a PEG ratio of 1.82 and a beta of 0.37. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average price of $60.82 and a 200 day moving average price of $53.81. Royalty Pharma has a twelve month low of $37.31 and a twelve month high of $69.77.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The business had revenue of $674.14 million for the quarter, compared to analysts’ expectations of $758.93 million. As a group, equities research analysts forecast that Royalty Pharma will post 5.34 earnings per share for the current year.

Insider Buying and Selling

In other Royalty Pharma news, EVP Marshall Urist sold 4,126 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $57.10, for a total value of $235,594.60. The sale was disclosed in a filing with the SEC, which is available 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 the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the completion of the sale, the executive vice president directly owned 270,401 shares in the company, valued at approximately $15,826,570.53. This represents a 27.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 208,252 shares of company stock valued at $12,324,407 in the last quarter. 18.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors have recently modified their holdings of RPRX. Bank of America Corp DE increased its holdings in Royalty Pharma by 29.0% in the first quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock valued at $167,696,000 after buying an additional 786,921 shares during the last quarter. Amundi lifted its holdings in Royalty Pharma by 15.3% during the 1st quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company’s stock worth $148,168,000 after buying an additional 409,394 shares during the last quarter. Dorsey Asset Management LLC lifted its holdings in Royalty Pharma by 0.8% during the 1st quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock worth $109,207,000 after buying an additional 17,101 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Royalty Pharma by 2,562.2% during the 1st quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock worth $74,000,000 after acquiring an additional 1,486,020 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Royalty Pharma by 28.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,168,427 shares of the biopharmaceutical company’s stock worth $68,189,000 after acquiring an additional 256,841 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

About Royalty Pharma

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding.

The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.

Founded in 1996 by Pablo Legorreta, the company became publicly listed in 2020.