Royalty Pharma (NASDAQ:RPRX) Hits New 1-Year High - Here's Why

Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $35.43 and last traded at $35.36, with a volume of 753901 shares changing hands. The stock had previously closed at $34.86.

Analysts Set New Price Targets

RPRX has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Royalty Pharma in a research note on Friday, May 16th. They set an "overweight" rating and a $51.00 target price for the company. Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Finally, Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $47.33.

Royalty Pharma Trading Down 1.8%

The stock's fifty day moving average price is $33.35 and its 200 day moving average price is $31.41. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a market cap of $19.83 billion, a PE ratio of 19.06, a PEG ratio of 1.84 and a beta of 0.48.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results 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 net margin of 48.23% and a return on equity of 24.71%. The firm had revenue of $839.00 million for the quarter, compared to analysts' expectations of $724.69 million. On average, sell-side analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

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

Institutional Investors Weigh In On Royalty Pharma

A number of institutional investors have recently made changes to their positions in the company. Applied Finance Capital Management LLC grew its holdings in shares of Royalty Pharma by 3.0% during the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock valued at $351,000 after buying an additional 329 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Royalty Pharma by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after purchasing an additional 349 shares during the last quarter. National Bank of Canada FI boosted its holdings in Royalty Pharma by 21.8% in the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 371 shares during the last quarter. Sherbrooke Park Advisers LLC boosted its holdings in Royalty Pharma by 1.1% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock worth $890,000 after purchasing an additional 380 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in Royalty Pharma by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company's stock worth $1,068,000 after purchasing an additional 388 shares during the last quarter. Hedge funds and other 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.