Royalty Pharma (NASDAQ:RPRX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Royalty Pharma from “buy” to “strong buy.” Other analysts are also broadly positive: MarketBeat reports a consensus “buy” rating and a $63.29 average price target.
• Royalty Pharma shares opened at $69.31 and were up 0.5%; the stock’s 12-month range is $37.31 to $70.37.
• Company insiders sold 208,252 shares worth about $12.3 million over the past 90 days, while institutional investors and hedge funds own 54.35% of shares.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday, Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Weiss Ratings raised shares of Royalty Pharma from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, September 14th. Bank of America restated a "buy" rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. TD Cowen upped their target price on shares of Royalty Pharma from $65.00 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, September 8th. Morgan Stanley increased their price target on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. lifted their price target on Royalty Pharma from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $63.29.

Royalty Pharma Stock Up 0.5%

Shares of NASDAQ:RPRX opened at $69.31 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $61.51 and a 200 day simple moving average of $54.53. The firm has a market cap of $39.85 billion, a PE ratio of 57.76, a price-to-earnings-growth ratio of 1.37 and a beta of 0.37. Royalty Pharma has a 12-month low of $37.31 and a 12-month high of $70.37.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, EVP Marshall Urist sold 4,126 shares of the business's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 on Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the sale, the executive vice president directly owned 270,401 shares in the company, valued at $15,826,570.53. This trade 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 have sold 208,252 shares of company stock worth $12,324,407 over the last 90 days. 18.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RPRX. Empowered Funds LLC grew its position in shares of Royalty Pharma by 71.0% during the 3rd quarter. Empowered Funds LLC now owns 397,847 shares of the biopharmaceutical company's stock valued at $23,218,000 after buying an additional 165,167 shares during the last quarter. Kovack Advisors Inc. bought a new position in Royalty Pharma in the third quarter worth about $35,000. Bleakley Financial Group LLC lifted its holdings in Royalty Pharma by 11.6% in the third quarter. Bleakley Financial Group LLC now owns 16,327 shares of the biopharmaceutical company's stock worth $953,000 after acquiring an additional 1,701 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its holdings in Royalty Pharma by 2.4% in the third quarter. Horizon Kinetics Asset Management LLC now owns 353,191 shares of the biopharmaceutical company's stock worth $20,612,000 after acquiring an additional 8,330 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Royalty Pharma by 1.3% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 271,112 shares of the biopharmaceutical company's stock worth $15,822,000 after acquiring an additional 3,558 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 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.

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