Royalty Pharma (NASDAQ:RPRX) Upgraded to Buy at Wall Street Zen

Royalty Pharma (NASDAQ:RPRX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other equities analysts also recently commented on RPRX. Morgan Stanley assumed coverage on Royalty Pharma in a report on Friday, May 16th. They set an "overweight" rating and a $51.00 target price for the company. Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $47.33.

Royalty Pharma Trading Up 2.1%

Shares of NASDAQ:RPRX traded up $0.74 during midday trading on Friday, hitting $36.14. 8,046,257 shares of the stock traded hands, compared to its average volume of 3,664,822. 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 business's 50 day moving average is $33.20 and its two-hundred day moving average is $31.35. The stock has a market capitalization of $20.32 billion, a PE ratio of 19.54, a P/E/G ratio of 1.79 and a beta of 0.48. Royalty Pharma has a one year low of $24.05 and a one year high of $36.32.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. As a group, research analysts forecast that Royalty Pharma will post 4.49 earnings per share for the current year.

Hedge Funds Weigh In On Royalty Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPRX. Adage Capital Partners GP L.L.C. increased its stake in shares of Royalty Pharma by 42.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock worth $432,862,000 after acquiring an additional 5,069,127 shares in the last quarter. Norges Bank bought a new position in shares of Royalty Pharma during the fourth quarter valued at approximately $124,498,000. Victory Capital Management Inc. increased its stake in shares of Royalty Pharma by 270.4% during the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock valued at $112,788,000 after purchasing an additional 2,644,923 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Royalty Pharma during the fourth quarter valued at approximately $41,959,000. Finally, AQR Capital Management LLC boosted its position in shares of Royalty Pharma by 187.0% in the 4th quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company's stock worth $48,563,000 after purchasing an additional 1,240,384 shares in 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.