Royalty Pharma (NASDAQ:RPRX) Reaches New 52-Week High - Still a Buy?

Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $36.69 and last traded at $36.51, with a volume of 2817170 shares trading hands. The stock had previously closed at $36.24.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Morgan Stanley set a $54.00 price target on Royalty Pharma and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Royalty Pharma presently has a consensus rating of "Buy" and a consensus price target of $48.33.

Royalty Pharma Price Performance

The stock has a market capitalization of $19.96 billion, a P/E ratio of 19.18, a PEG ratio of 2.43 and a beta of 0.50. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $34.40 and a two-hundred day simple moving average of $32.53.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 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 during the quarter, compared to the consensus estimate of $724.69 million. Sell-side analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.48%. Royalty Pharma's dividend payout ratio (DPR) is presently 47.57%.

Institutional Investors Weigh In On Royalty Pharma

Large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. lifted its stake in Royalty Pharma by 42.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock valued at $432,862,000 after acquiring an additional 5,069,127 shares in the last quarter. Norges Bank acquired a new position in shares of Royalty Pharma during the 4th quarter worth about $124,498,000. Victory Capital Management Inc. increased its position in shares of Royalty Pharma by 270.4% in the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock valued at $112,788,000 after acquiring an additional 2,644,923 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Royalty Pharma during the fourth quarter valued at approximately $41,959,000. Finally, AQR Capital Management LLC grew its stake in Royalty Pharma by 187.0% in the fourth quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company's stock valued at $48,563,000 after purchasing an additional 1,240,384 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

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.