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

StockNews.com upgraded shares of Royalty Pharma (NASDAQ:RPRX) from a hold rating to a buy rating in a report issued on Tuesday morning.

RPRX has been the subject of several other research reports. UBS Group cut shares of Royalty Pharma from a buy rating to a neutral rating and set a $28.00 price target for the company. in a research report on Monday, June 3rd. Morgan Stanley increased their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group increased their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a buy rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Royalty Pharma currently has a consensus rating of Moderate Buy and a consensus price target of $42.00.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $27.54 on Tuesday. Royalty Pharma has a 52-week low of $25.20 and a 52-week high of $31.66. The stock has a market capitalization of $16.34 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 4.17 and a beta of 0.46. The company has a fifty day moving average of $28.00 and a 200-day moving average of $28.00. 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 announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $600.83 million. During the same quarter in the prior year, the company earned $0.85 EPS. Equities research analysts expect that Royalty Pharma will post 4.04 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 16th were given a $0.21 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.84 annualized dividend and a dividend yield of 3.05%. Royalty Pharma’s dividend payout ratio is 62.69%.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of Royalty Pharma in the 2nd quarter worth about $649,000. Aurora Investment Counsel increased its stake in shares of Royalty Pharma by 15.1% in the 2nd quarter. Aurora Investment Counsel now owns 49,929 shares of the biopharmaceutical company’s stock worth $1,317,000 after acquiring an additional 6,544 shares in the last quarter. Regal Investment Advisors LLC increased its stake in shares of Royalty Pharma by 21.2% in the 2nd quarter. Regal Investment Advisors LLC now owns 21,167 shares of the biopharmaceutical company’s stock worth $558,000 after acquiring an additional 3,700 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Royalty Pharma in the 2nd quarter worth about $1,980,000. Finally, MBB Public Markets I LLC bought a new position in shares of Royalty Pharma in the 2nd quarter worth about $715,000. 54.35% of the stock is owned by hedge funds and other 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.