Royalty Pharma (NASDAQ:RPRX) Hits New 1-Year High - What's Next?

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $34.63 and last traded at $34.41, with a volume of 704107 shares changing hands. The stock had previously closed at $34.05.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Royalty Pharma in a report on Friday, May 16th. They set an "overweight" rating and a $51.00 price target on the stock. Citigroup restated a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Finally, Wall Street Zen downgraded shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $47.33.

Royalty Pharma Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $19.83 billion, a P/E ratio of 24.32, a P/E/G ratio of 2.31 and a beta of 0.48. The stock's 50 day simple moving average is $32.74 and its 200 day simple moving average is $30.86.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.50%. Royalty Pharma's payout ratio is presently 47.57%.

Hedge Funds Weigh In On Royalty Pharma

Several institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its holdings in Royalty Pharma by 417.6% during the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 877 shares during the period. Louisbourg Investments Inc. purchased a new stake in Royalty Pharma during the first quarter worth $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 414 shares during the period. Riverview Trust Co lifted its holdings in Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 1,186 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in Royalty Pharma during the first quarter worth $36,000. 54.35% of the stock is 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.