Royalty Pharma (NASDAQ:RPRX) Hits New 12-Month High – Here’s Why

Shares of Royalty Pharma plc (NASDAQ:RPRX) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $34.20 and last traded at $33.80, with a volume of 8575168 shares. The stock had previously closed at $33.42.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RPRX shares. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $41.60.

Royalty Pharma Stock Down 0.0 %

The company has a market capitalization of $19.24 billion, a P/E ratio of 23.01, a PEG ratio of 2.31 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50 day moving average of $29.71 and a 200-day moving average of $28.09.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. As a group, equities analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be given a dividend of $0.22 per share. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, February 21st. Royalty Pharma’s payout ratio is presently 60.69%.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group raised its stake in Royalty Pharma by 1,006.9% in the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 876 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 877 shares during the period. Blue Trust Inc. boosted its position in shares of Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 943 shares in the last quarter. Riverview Trust Co boosted its position in shares of Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Royalty Pharma by 187.1% in the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 997 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.