Royalty Pharma (NASDAQ:RPRX) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Royalty Pharma (NASDAQ:RPRX) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

A number of other research analysts have also recently issued reports on RPRX. Morgan Stanley assumed coverage on Royalty Pharma in a report on Friday, May 16th. They issued an “overweight” rating and a $51.00 price target for the company. Citigroup reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royalty Pharma currently has an average rating of “Moderate Buy” and an average price target of $42.50.

Royalty Pharma Stock Down 3.4%

Shares of NASDAQ:RPRX opened at $33.09 on Tuesday. Royalty Pharma has a 52 week low of $24.05 and a 52 week high of $34.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company’s fifty day moving average is $32.43 and its 200-day moving average is $30.08. The company has a market capitalization of $19.07 billion, a PE ratio of 22.82, a P/E/G ratio of 2.31 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Equities research analysts predict that Royalty Pharma will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.66%. Royalty Pharma’s dividend payout ratio is currently 47.57%.

Institutional Trading of Royalty Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPRX. Adage Capital Partners GP L.L.C. raised its holdings in Royalty Pharma by 42.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company’s stock worth $432,862,000 after purchasing an additional 5,069,127 shares during the last quarter. Norges Bank bought a new stake in Royalty Pharma during the 4th quarter worth about $124,498,000. Victory Capital Management Inc. raised its holdings in Royalty Pharma by 270.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock worth $112,788,000 after purchasing an additional 2,644,923 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Royalty Pharma during the 4th quarter worth about $41,959,000. Finally, AQR Capital Management LLC raised its holdings in Royalty Pharma by 187.0% during the 4th quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company’s stock worth $48,563,000 after purchasing an additional 1,240,384 shares during the last quarter. 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.