Analysts Set Royalty Pharma plc (NASDAQ:RPRX) Price Target at $42.00

Shares of Royalty Pharma plc (NASDAQ:RPRX) have received an average recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $42.00.

Several analysts recently issued reports on the company. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Morgan Stanley boosted their target price on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group upped their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th.

Institutional Investors Weigh In On Royalty Pharma

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 1,043 shares in the last quarter. Gladius Capital Management LP purchased a new position in Royalty Pharma during the 2nd quarter valued at about $32,000. Fidelis Capital Partners LLC bought a new stake in Royalty Pharma during the first quarter worth about $46,000. GAMMA Investing LLC grew its holdings in Royalty Pharma by 172.5% in the first quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 1,037 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 655 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $27.36 on Friday. 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 has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The business has a 50 day moving average price of $27.93 and a 200-day moving average price of $27.81. The firm has a market cap of $16.24 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 4.17 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, topping 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 business had revenue of $537.00 million for the quarter, compared to analyst estimates of $600.83 million. During the same quarter last year, the firm earned $0.85 EPS. Equities research analysts predict that Royalty Pharma will post 4.04 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company 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. This represents a $0.84 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, August 16th. Royalty Pharma’s dividend payout ratio is currently 62.69%.

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.