Royalty Pharma (NASDAQ:RPRX) Sets New 1-Year High – Should You Buy?

Royalty Pharma PLC (NASDAQ:RPRX – Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $68.20 and last traded at $68.4250, with a volume of 5,165 shares changing hands. The stock had previously closed at $67.56.

Trending Headlines about Royalty Pharma

Here are the key news stories impacting Royalty Pharma this week:

Analyst Upgrades and Downgrades

Several analysts have commented on RPRX shares. TD Cowen lifted their target price on shares of Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. The Goldman Sachs Group reissued a “buy” rating and set a $66.00 price target on shares of Royalty Pharma in a research note on Thursday, August 6th. Weiss Ratings upgraded Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 14th. JPMorgan Chase & Co. lifted their price objective on Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and an average price target of $61.57.

View Our Latest Stock Analysis on RPRX

Royalty Pharma Price Performance

The company’s 50-day moving average is $60.59 and its 200-day moving average is $53.53. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. The firm has a market capitalization of $39.90 billion, a price-to-earnings ratio of 47.83, a PEG ratio of 1.82 and a beta of 0.37.

Royalty Pharma (NASDAQ:RPRX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The firm had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. On average, research analysts expect that Royalty Pharma PLC will post 5.29 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be issued a $0.2350 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s dividend payout ratio (DPR) is 64.83%.

Insider Buying and Selling at Royalty Pharma

In related news, EVP Christopher Hite sold 100,000 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the transaction, the executive vice president directly owned 270,401 shares of the company’s stock, valued at approximately $15,826,570.53. This trade represents a 27.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction on Monday, October 5th. The shares were sold at an average price of $57.10, for a total value of $235,594.60. 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 have sold a total of 208,252 shares of company stock valued at $12,324,407 over the last three months. Corporate insiders own 18.84% of the company’s stock.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Royalty Pharma by 29.0% during the 1st quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock worth $167,696,000 after purchasing an additional 786,921 shares in the last quarter. Amundi grew its stake in Royalty Pharma by 15.3% during the first quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company’s stock worth $148,168,000 after buying an additional 409,394 shares during the period. Dorsey Asset Management LLC grew its stake in Royalty Pharma by 0.8% during the first quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock worth $109,207,000 after buying an additional 17,101 shares during the period. Hsbc Holdings PLC increased its position in shares of Royalty Pharma by 2,562.2% in the first quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock worth $74,000,000 after acquiring an additional 1,486,020 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Royalty Pharma by 28.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,168,427 shares of the biopharmaceutical company’s stock worth $68,189,000 after acquiring an additional 256,841 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Company Profile

(Get Free Report)

Royalty Pharma plc (NASDAQ:RPRX) is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.

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