Royalty Pharma (NASDAQ:RPRX) Upgraded to “Strong-Buy” at TD Cowen

TD Cowen upgraded shares of Royalty Pharma (NASDAQ:RPRX) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other analysts also recently issued reports on RPRX. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Citigroup dropped their price objective on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $41.67.

Royalty Pharma Price Performance

RPRX stock opened at $25.23 on Tuesday. The stock has a 50-day moving average price of $26.32 and a two-hundred day moving average price of $27.13. The company has a market cap of $14.87 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 4.36 and a beta of 0.46. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma has a 12-month low of $24.05 and a 12-month high of $31.66.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a $0.21 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.33%. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

Institutional Investors Weigh In On Royalty Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 943 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Royalty Pharma in the third quarter worth about $61,000. EverSource Wealth Advisors LLC boosted 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 valued at $76,000 after purchasing an additional 655 shares during the last quarter. Transamerica Financial Advisors Inc. grew its stake in Royalty Pharma by 99.9% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 1,729 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in Royalty Pharma by 274.7% during the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock worth $168,000 after purchasing an additional 4,683 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

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.