Royalty Pharma (NASDAQ:RPRX) Sets New 1-Year High - Still a Buy?

Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $36.56 and last traded at $36.50, with a volume of 216635 shares traded. The stock had previously closed at $35.87.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup restated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. Morgan Stanley set a $54.00 price target on shares of Royalty Pharma and gave the stock an "overweight" rating in a research report on Thursday. Finally, Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $48.33.

Royalty Pharma Stock Down 0.8%

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.56. The business's 50 day simple moving average is $34.19 and its 200 day simple moving average is $32.31. The company has a market capitalization of $20.15 billion, a PE ratio of 19.37, a P/E/G ratio of 1.84 and a beta of 0.50.

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. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. As a group, analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share 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 paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is presently 47.57%.

Hedge Funds Weigh In On Royalty Pharma

Institutional investors have recently bought and sold shares of the company. Louisbourg Investments Inc. purchased a new position in Royalty Pharma during the first quarter worth about $28,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 414 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Royalty Pharma in the 1st quarter valued at approximately $36,000. WPG Advisers LLC purchased a new stake in shares of Royalty Pharma in the 1st quarter valued at approximately $39,000. Finally, Allworth Financial LP raised its stake in shares of Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 452 shares during the period. 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.