Royalty Pharma (NASDAQ:RPRX) Hits New 52-Week High - What's Next?

Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $36.33 and last traded at $35.97, with a volume of 927140 shares trading hands. The stock had previously closed at $36.03.

Analyst Ratings Changes

Several analysts recently commented on RPRX shares. Wall Street Zen cut shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday. Morgan Stanley initiated coverage on shares of Royalty Pharma in a report on Friday, May 16th. They issued an "overweight" rating and a $51.00 target price for the company. Finally, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $47.33.

Royalty Pharma Trading Up 0.4%

The firm has a market cap of $20.42 billion, a PE ratio of 19.64, a PEG ratio of 1.86 and a beta of 0.50. 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 has a 50-day moving average price of $33.79 and a two-hundred day moving average price of $31.85.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued 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 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. Analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Friday, May 16th. Royalty Pharma's payout ratio is currently 47.57%.

Hedge Funds Weigh In On Royalty Pharma

Several hedge funds have recently bought and sold shares of the stock. Louisbourg Investments Inc. acquired a new stake in shares of Royalty Pharma during the first quarter valued at $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in 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 purchasing an additional 414 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Royalty Pharma during the 1st quarter worth about $36,000. WPG Advisers LLC acquired a new stake in shares of Royalty Pharma during the 1st quarter worth about $39,000. Finally, Allworth Financial LP boosted its stake in shares of Royalty Pharma by 41.6% during 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 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.