StockNews.com upgraded shares of Royalty Pharma (NASDAQ:RPRX - Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.
Several other brokerages have also recently commented on RPRX. JPMorgan Chase & Co. dropped their price target on Royalty Pharma from $45.00 to $42.00 and set an overweight rating for the company in a research report on Tuesday, February 20th. The Goldman Sachs Group dropped their price target on Royalty Pharma from $56.00 to $50.00 and set a buy rating for the company in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Royalty Pharma currently has an average rating of Buy and a consensus target price of $49.67.
Read Our Latest Analysis on Royalty Pharma
Royalty Pharma Price Performance
Shares of RPRX stock traded down $0.40 during trading hours on Thursday, hitting $29.05. 3,220,850 shares of the company's stock were exchanged, compared to its average volume of 2,672,945. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.61. The firm has a market cap of $17.36 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.84 and a beta of 0.45. The firm has a 50 day moving average of $29.88 and a two-hundred day moving average of $28.46. Royalty Pharma has a fifty-two week low of $25.92 and a fifty-two week high of $36.74.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.12. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. The business had revenue of $736.00 million during the quarter, compared to the consensus estimate of $702.90 million. Sell-side analysts forecast that Royalty Pharma will post 3.9 EPS for the current year.
Royalty Pharma Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 16th were issued a $0.21 dividend. This is a boost from Royalty Pharma's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, February 15th. Royalty Pharma's dividend payout ratio is presently 44.44%.
Institutional Trading of Royalty Pharma
Several large investors have recently added to or reduced their stakes in RPRX. Allworth Financial LP grew its holdings in Royalty Pharma by 89.8% in the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 451 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Royalty Pharma by 112.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 531 shares during the period. Captrust Financial Advisors grew its holdings in shares of Royalty Pharma by 210.8% during the 2nd quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 546 shares during the period. GAMMA Investing LLC grew its holdings in shares of Royalty Pharma by 172.5% during the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company's stock worth $50,000 after purchasing an additional 1,037 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in shares of Royalty Pharma by 485.2% during the 4th quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company's stock worth $68,000 after purchasing an additional 1,999 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.
About Royalty Pharma
(
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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.
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