Royalty Pharma (NASDAQ:RPRX) Upgraded by StockNews.com to Buy Rating

Royalty Pharma (NASDAQ:RPRX - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday.

Separately, Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Royalty Pharma currently has an average rating of "Buy" and a consensus price target of $42.50.

Royalty Pharma Stock Performance

RPRX stock traded up $0.20 during midday trading on Monday, hitting $33.35. 5,527,595 shares of the company traded hands, compared to its average volume of 3,313,518. Royalty Pharma has a twelve month low of $24.05 and a twelve month high of $34.20. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The business has a 50 day simple moving average of $32.38 and a 200-day simple moving average of $29.84. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49.

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

Institutional Investors Weigh In On Royalty Pharma

Several hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in Royalty Pharma in the first quarter worth about $27,749,000. Virtu Financial LLC lifted its stake in shares of Royalty Pharma by 41.0% in the 1st quarter. Virtu Financial LLC now owns 25,830 shares of the biopharmaceutical company's stock valued at $804,000 after purchasing an additional 7,510 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Royalty Pharma by 34.1% in the 1st quarter. Invesco Ltd. now owns 1,284,418 shares of the biopharmaceutical company's stock valued at $39,984,000 after purchasing an additional 326,525 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Royalty Pharma during the 1st quarter worth approximately $144,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Royalty Pharma during the 1st quarter worth approximately $205,000. 54.35% of the stock is owned by institutional investors.

About Royalty Pharma

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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