JPMorgan Chase & Co. Issues Positive Forecast for Royalty Pharma (NASDAQ:RPRX) Stock Price

Royalty Pharma (NASDAQ:RPRX) had its target price upped by JPMorgan Chase & Co. from $58.00 to $62.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

RPRX has been the topic of a number of other reports. Weiss Ratings lowered Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Royalty Pharma in a research report on Thursday. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. UBS Group upped their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $66.00 price objective on shares of Royalty Pharma in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $60.86.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $56.77 on Friday. The firm has a 50-day moving average of $56.47 and a two-hundred day moving average of $50.47. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.66. The stock has a market cap of $32.69 billion, a P/E ratio of 39.15, a PEG ratio of 1.34 and a beta of 0.43. Royalty Pharma has a 1-year low of $34.08 and a 1-year high of $60.44.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. On average, research analysts expect that Royalty Pharma will post 5.26 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a yield of 1.7%. Royalty Pharma’s payout ratio is presently 63.95%.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 64,399 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total value of $508,452.12. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 393,009 shares of company stock valued at $21,601,827 over the last three months. 18.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Royalty Pharma

Several large investors have recently added to or reduced their stakes in the stock. Phillips Wealth Planners LLC boosted its position in shares of Royalty Pharma by 1.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after buying an additional 242 shares during the period. Strs Ohio grew its holdings in shares of Royalty Pharma by 2.8% during the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after buying an additional 252 shares in the last quarter. Glenmede Trust Co. NA raised its position in Royalty Pharma by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 254 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Royalty Pharma by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after buying an additional 255 shares during the period. Finally, Cary Street Partners Financial LLC lifted its stake in Royalty Pharma by 1.1% in the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after acquiring an additional 260 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.