Royalty Pharma (NASDAQ:RPRX) Raised to Buy (B-) at Weiss Ratings

Key Points

• Royalty Pharma has been upgraded from a "hold (C+)" to a "buy (B-)" rating by Weiss Ratings, indicating increased confidence in the stock's performance.
• The stock currently has a consensus price target of $46.00, with one analyst rating it as a Strong Buy and four issuing Buy ratings.
• Royalty Pharma reported an EPS of $1.14, slightly exceeding analysts' expectations, although its revenue fell short with $578.67 million against a forecast of $750.06 million.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) was upgraded by investment analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research note issued on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Morgan Stanley increased their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citigroup raised their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They set a "buy" rating and a $42.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $46.00.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $36.02 on Wednesday. The stock has a market cap of $21.01 billion, a P/E ratio of 20.82, a P/E/G ratio of 2.26 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. The company has a fifty day moving average price of $36.22 and a two-hundred day moving average price of $34.60. Royalty Pharma has a one year low of $24.05 and a one year high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $578.67 million during the quarter, compared to analysts' expectations of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. As a group, equities analysts predict that Royalty Pharma will post 4.49 EPS for the current year.

Institutional Trading of Royalty Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Louisbourg Investments Inc. acquired a new stake in Royalty Pharma in the 1st quarter worth about $28,000. USA Financial Formulas acquired a new stake in Royalty Pharma in the 2nd quarter worth about $32,000. Summit Securities Group LLC acquired a new stake in Royalty Pharma in the 1st quarter worth about $36,000. WPG Advisers LLC acquired a new stake in Royalty Pharma in the 1st quarter worth about $39,000. Finally, Allworth Financial LP raised its stake in Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 452 shares in the last quarter. Institutional investors and hedge funds 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.

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