StockNews.com Downgrades Royalty Pharma (NASDAQ:RPRX) to Hold

StockNews.com downgraded shares of Royalty Pharma (NASDAQ:RPRX) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

A number of other research analysts also recently commented on the company. Morgan Stanley increased their target price on Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Citigroup reduced their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, The Goldman Sachs Group boosted their target price 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma Stock Down 0.7 %

Shares of NASDAQ:RPRX opened at $27.00 on Monday. The firm has a market cap of $16.13 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 3.97 and a beta of 0.46. The company has a fifty day simple moving average of $27.99 and a 200 day simple moving average of $27.57. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. Royalty Pharma has a 12-month low of $25.20 and a 12-month high of $31.66.

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

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.21 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.11%. Royalty Pharma’s dividend payout ratio (DPR) is presently 62.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Inspire Investing LLC raised its holdings in shares of Royalty Pharma by 175.1% during the first quarter. Inspire Investing LLC now owns 43,524 shares of the biopharmaceutical company’s stock valued at $1,322,000 after buying an additional 27,701 shares during the last quarter. New Century Financial Group LLC acquired a new position in Royalty Pharma during the 1st quarter worth $1,091,000. Swedbank AB grew its stake in shares of Royalty Pharma by 30.6% in the second quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock worth $285,151,000 after purchasing an additional 2,533,570 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Royalty Pharma by 5.2% during the first quarter. Canada Pension Plan Investment Board now owns 923,639 shares of the biopharmaceutical company’s stock valued at $28,051,000 after purchasing an additional 45,839 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of Royalty Pharma by 28.2% during the first quarter. Tidal Investments LLC now owns 90,149 shares of the biopharmaceutical company’s stock valued at $2,740,000 after purchasing an additional 19,834 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

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.