Royalty Pharma PLC (NASDAQ:RPRX) Receives $46.00 Consensus Target Price from Brokerages

Royalty Pharma PLC (NASDAQ:RPRX) has received a consensus rating of “Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $46.00.

Several research firms have commented on RPRX. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Citigroup upped their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price target on the stock. Morgan Stanley upped their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th.

Royalty Pharma Price Performance

Shares of RPRX opened at $36.14 on Friday. The firm has a market capitalization of $21.08 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.25 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. Royalty Pharma has a 1-year low of $24.05 and a 1-year high of $38.00. The company’s fifty day moving average price is $36.20 and its 200-day moving average price is $34.61.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $578.67 million for the quarter, compared to analyst estimates of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. On average, equities research analysts predict that Royalty Pharma will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 15th. Royalty Pharma’s dividend payout ratio is presently 50.87%.

Institutional Investors Weigh In On Royalty Pharma

Several hedge funds have recently added to or reduced their stakes in the business. Merit Financial Group LLC acquired a new position in shares of Royalty Pharma in the first quarter worth about $252,000. M&T Bank Corp raised its position in shares of Royalty Pharma by 23.4% in the first quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company’s stock worth $902,000 after acquiring an additional 5,500 shares during the period. Yousif Capital Management LLC acquired a new position in shares of Royalty Pharma in the first quarter worth about $275,000. Asset Management One Co. Ltd. raised its position in shares of Royalty Pharma by 8.0% in the first quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company’s stock worth $5,134,000 after acquiring an additional 12,148 shares during the period. Finally, Amalgamated Bank raised its position in shares of Royalty Pharma by 4.4% in the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company’s stock worth $636,000 after acquiring an additional 866 shares during the period. 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.