Royalty Pharma (NASDAQ:RPRX) Hits New 12-Month High – What’s Next?

Shares of Royalty Pharma plc (NASDAQ:RPRX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $34.63 and last traded at $34.41, with a volume of 704107 shares changing hands. The stock had previously closed at $34.05.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Royalty Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. Finally, Morgan Stanley began coverage on Royalty Pharma in a report on Friday, May 16th. They issued an “overweight” rating and a $51.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $47.33.

Royalty Pharma Trading Down 1.2%

The business’s 50-day moving average price is $32.82 and its 200 day moving average price is $30.92. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $19.59 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.31 and a beta of 0.48.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. The business had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. On average, equities analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.53%. Royalty Pharma’s dividend payout ratio is currently 47.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP increased its stake in Royalty Pharma by 417.6% during the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 877 shares during the period. Louisbourg Investments Inc. bought a new position in shares of Royalty Pharma in the first quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 414 shares during the period. Riverview Trust Co raised its holdings in Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in Royalty Pharma during the first quarter worth approximately $36,000. 54.35% of the stock is owned by institutional investors and hedge funds.

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.