Royalty Pharma plc (NASDAQ:RPRX) Receives $41.67 Consensus Price Target from Brokerages

Shares of Royalty Pharma plc (NASDAQ:RPRX) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $41.67.

A number of brokerages have issued reports on RPRX. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley upped their target price on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Citigroup lowered their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th.

Institutional Investors Weigh In On Royalty Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in RPRX. Swedbank AB raised its position in Royalty Pharma by 2.0% in the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock valued at $311,964,000 after buying an additional 213,900 shares during the last quarter. New South Capital Management Inc. raised its holdings in Royalty Pharma by 60.7% during the 2nd quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock valued at $61,943,000 after acquiring an additional 887,522 shares during the period. Homestead Advisers Corp raised its stake in shares of Royalty Pharma by 40.7% during the 1st quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock valued at $57,502,000 after purchasing an additional 547,000 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Royalty Pharma by 10.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,856,998 shares of the biopharmaceutical company’s stock worth $56,396,000 after buying an additional 175,261 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Royalty Pharma by 6.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock valued at $40,428,000 after purchasing an additional 86,248 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $27.20 on Tuesday. The stock has a market capitalization of $16.14 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 3.99 and a beta of 0.47. Royalty Pharma has a 52 week low of $25.20 and a 52 week high of $31.66. The stock has a 50 day moving average price of $27.95 and a 200 day moving average price of $27.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The company had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. During the same quarter last year, the firm earned $0.85 earnings per share. Analysts predict that Royalty Pharma will post 4.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s payout ratio is 74.34%.

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.