Royalty Pharma PLC (NASDAQ:RPRX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Royalty Pharma PLC (NASDAQ:RPRX) have received a consensus rating of “Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $56.5714.

Several equities analysts have commented on RPRX shares. JPMorgan Chase & Co. raised their target price on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. UBS Group upped their target price on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. TD Cowen lifted their price target on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Finally, Morgan Stanley raised their target price on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th.

Insider Buying and Selling at Royalty Pharma

In other news, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 393,009 shares of company stock valued at $21,601,827 in the last ninety days. Company insiders own 18.84% of the company’s stock.

Institutional Investors Weigh In On Royalty Pharma

Large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB increased its holdings in shares of Royalty Pharma by 28.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 557,028 shares of the biopharmaceutical company’s stock valued at $31,233,000 after purchasing an additional 121,761 shares during the period. Assenagon Asset Management S.A. increased its stake in Royalty Pharma by 16.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 22,668 shares of the biopharmaceutical company’s stock valued at $1,271,000 after buying an additional 3,226 shares during the period. GAMMA Investing LLC lifted its position in Royalty Pharma by 16.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $314,000 after buying an additional 789 shares in the last quarter. CoreCap Advisors LLC boosted its stake in shares of Royalty Pharma by 89.2% during the 2nd quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 413 shares during the period. Finally, Eastern Bank boosted its stake in shares of Royalty Pharma by 5.4% during the 2nd quarter. Eastern Bank now owns 694,925 shares of the biopharmaceutical company’s stock valued at $38,964,000 after buying an additional 35,547 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX traded down $0.12 during trading hours on Thursday, hitting $59.06. The stock had a trading volume of 224,466 shares, compared to its average volume of 3,559,284. The stock’s fifty day simple moving average is $56.01 and its 200 day simple moving average is $49.67. The firm has a market capitalization of $34.01 billion, a price-to-earnings ratio of 40.17, a PEG ratio of 10.62 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. Royalty Pharma has a 1-year low of $34.08 and a 1-year high of $60.44.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The firm had revenue of $630.58 million for the quarter, compared to analysts’ expectations of $881.69 million. Sell-side analysts anticipate that Royalty Pharma will post 5.18 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s payout ratio is presently 63.95%.

Royalty Pharma Company Profile

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.