Royalty Pharma (NASDAQ:RPRX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Royalty Pharma (NASDAQ:RPRX) from a hold rating to a buy rating in a research note issued to investors on Thursday.

A number of other research analysts have also recently commented on RPRX. JPMorgan Chase & Co. reduced their price objective on Royalty Pharma from $45.00 to $42.00 and set an overweight rating on the stock in a research note on Tuesday, February 20th. The Goldman Sachs Group reduced their price objective on Royalty Pharma from $56.00 to $50.00 and set a buy rating on the stock in a research note on Tuesday, February 20th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Royalty Pharma has a consensus rating of Buy and a consensus target price of $49.67.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $29.05 on Thursday. Royalty Pharma has a twelve month low of $25.92 and a twelve month high of $36.74. The stock has a market capitalization of $17.36 billion, a P/E ratio of 15.37, a PEG ratio of 0.85 and a beta of 0.45. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average price is $29.88 and its 200 day moving average price is $28.46.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. The company had revenue of $736.00 million for the quarter, compared to analysts’ expectations of $702.90 million. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. As a group, research analysts anticipate that Royalty Pharma will post 3.89 earnings per share for the current year.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were paid a $0.21 dividend. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 15th. This represents a $0.84 annualized dividend and a dividend yield of 2.89%. Royalty Pharma’s payout ratio is 44.44%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Morgan Stanley lifted its stake in shares of Royalty Pharma by 1.5% in the third quarter. Morgan Stanley now owns 48,132,615 shares of the biopharmaceutical company’s stock worth $1,306,319,000 after acquiring an additional 702,754 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Royalty Pharma by 1.5% in the third quarter. Vanguard Group Inc. now owns 39,437,354 shares of the biopharmaceutical company’s stock worth $1,070,330,000 after acquiring an additional 589,558 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Royalty Pharma by 2.2% in the first quarter. BlackRock Inc. now owns 19,848,842 shares of the biopharmaceutical company’s stock worth $715,154,000 after acquiring an additional 435,591 shares in the last quarter. Viking Global Investors LP lifted its stake in shares of Royalty Pharma by 6.6% in the fourth quarter. Viking Global Investors LP now owns 10,087,417 shares of the biopharmaceutical company’s stock worth $283,356,000 after acquiring an additional 623,216 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Royalty Pharma by 13.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 9,840,000 shares of the biopharmaceutical company’s stock valued at $267,058,000 after buying an additional 1,190,000 shares during the last quarter. Institutional investors and hedge funds 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.