Royalty Pharma (NASDAQ:RPRX) Price Target Raised to $42.00 at Citigroup

Royalty Pharma (NASDAQ:RPRX - Free Report) had its price target increased by Citigroup from $40.00 to $42.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company's stock.

Several other equities research analysts also recently weighed in on RPRX. Morgan Stanley set a $54.00 price target on Royalty Pharma and gave the stock an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $49.00.

Royalty Pharma Trading Up 1.6%

RPRX stock traded up $0.58 during midday trading on Tuesday, reaching $36.59. 1,973,574 shares of the company traded hands, compared to its average volume of 4,534,521. Royalty Pharma has a 52-week low of $24.05 and a 52-week high of $36.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The business has a 50 day moving average of $34.68 and a 200-day moving average of $32.88. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 2.40 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. As a group, sell-side analysts expect that Royalty Pharma will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 2.41%. Royalty Pharma's payout ratio is currently 47.57%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. increased its holdings in Royalty Pharma by 42.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock worth $432,862,000 after purchasing an additional 5,069,127 shares during the period. Geode Capital Management LLC increased its holdings in Royalty Pharma by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company's stock worth $186,846,000 after purchasing an additional 46,765 shares during the period. Norges Bank purchased a new position in Royalty Pharma during the 4th quarter worth $124,498,000. Two Sigma Advisers LP increased its holdings in Royalty Pharma by 21.1% during the 4th quarter. Two Sigma Advisers LP now owns 3,673,200 shares of the biopharmaceutical company's stock worth $93,703,000 after purchasing an additional 640,000 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Royalty Pharma by 270.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock worth $112,788,000 after purchasing an additional 2,644,923 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

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.