Royalty Pharma (NASDAQ:RPRX) Price Target Lowered to $38.00 at Bank of America

Royalty Pharma (NASDAQ:RPRX) had its price target lowered by Bank of America from $40.00 to $38.00 in a report issued on Friday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price target on Royalty Pharma from $45.00 to $42.00 and set an overweight rating on the stock in a report on Tuesday, February 20th. The Goldman Sachs Group lowered their target price on shares of Royalty Pharma from $56.00 to $50.00 and set a buy rating on the stock in a research note on Tuesday, February 20th. Finally, StockNews.com raised shares of Royalty Pharma from a hold rating to a buy rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $46.75.

Royalty Pharma Trading Up 0.1 %

Shares of NASDAQ:RPRX opened at $28.25 on Friday. 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 stock has a market capitalization of $16.88 billion, a PE ratio of 14.95, a P/E/G ratio of 0.81 and a beta of 0.45. Royalty Pharma has a 1 year low of $25.92 and a 1 year high of $36.67. The firm has a fifty day moving average price of $29.90 and a 200 day moving average price of $28.51.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. The company had revenue of $736.00 million during 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%. Analysts expect that Royalty Pharma will post 3.89 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.84 dividend on an annualized basis and a yield of 2.97%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.20. Royalty Pharma’s payout ratio is 44.44%.

Institutional Trading of Royalty Pharma

A number of hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Royalty Pharma in the 4th quarter worth approximately $119,740,000. Vanguard Group Inc. raised its stake in shares of Royalty Pharma by 7.5% in the first quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock valued at $1,241,289,000 after purchasing an additional 2,224,056 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Royalty Pharma by 58.3% in the second quarter. Goldman Sachs Group Inc. now owns 3,647,056 shares of the biopharmaceutical company’s stock worth $112,111,000 after purchasing an additional 1,343,711 shares during the period. ADAR1 Capital Management LLC acquired a new stake in Royalty Pharma during the fourth quarter worth $37,130,000. Finally, Patient Capital Management LLC bought a new stake in Royalty Pharma in the 4th quarter valued at $35,247,000. 54.35% of the stock is owned by 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.