Royalty Pharma plc (NASDAQ:RPRX) Receives $46.75 Average PT from Brokerages

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report) has been given an average recommendation of "Buy" by the four research firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $46.75.

Several research firms have commented on RPRX. The Goldman Sachs Group decreased their price target on shares of Royalty Pharma from $56.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, February 20th. Bank of America decreased their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Friday. StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Royalty Pharma from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Tuesday, February 20th.

Hedge Funds Weigh In On Royalty Pharma

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its holdings in shares of Royalty Pharma by 154.6% during the second quarter. Barclays PLC now owns 1,103,665 shares of the biopharmaceutical company's stock valued at $33,928,000 after acquiring an additional 670,204 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Royalty Pharma by 9.3% in the 3rd quarter. Victory Capital Management Inc. now owns 338,890 shares of the biopharmaceutical company's stock worth $9,197,000 after buying an additional 28,851 shares during the period. Korea Investment CORP increased its holdings in Royalty Pharma by 498.0% in the 3rd quarter. Korea Investment CORP now owns 226,653 shares of the biopharmaceutical company's stock worth $6,151,000 after buying an additional 188,754 shares during the period. Synovus Financial Corp increased its holdings in Royalty Pharma by 26.0% in the 3rd quarter. Synovus Financial Corp now owns 119,741 shares of the biopharmaceutical company's stock worth $3,250,000 after buying an additional 24,721 shares during the period. Finally, Northern Trust Corp increased its holdings in Royalty Pharma by 9.4% in the 3rd quarter. Northern Trust Corp now owns 2,597,949 shares of the biopharmaceutical company's stock worth $70,508,000 after buying an additional 224,261 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Stock Down 2.9 %

NASDAQ:RPRX traded down $0.83 during mid-day trading on Friday, reaching $28.22. The company's stock had a trading volume of 3,161,429 shares, compared to its average volume of 2,682,895. Royalty Pharma has a 1 year low of $25.92 and a 1 year high of $36.67. The stock has a fifty day moving average of $29.88 and a 200-day moving average of $28.46. The firm has a market capitalization of $16.86 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.61.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.12. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. The company had revenue of $736.00 million during the quarter, compared to analyst estimates of $702.90 million. Equities research analysts forecast that Royalty Pharma will post 3.89 earnings per share for the current year.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 16th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.84 annualized dividend and a dividend yield of 2.98%. This is an increase from Royalty Pharma's previous quarterly dividend of $0.20. Royalty Pharma's dividend payout ratio is 44.44%.

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.