Royalty Pharma PLC (NASDAQ:RPRX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Royalty Pharma PLC (NASDAQ:RPRX) have earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.00.

Several equities research analysts have recently weighed in on RPRX shares. Morgan Stanley lowered their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 15th. The Goldman Sachs Group began coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price for the company. Finally, TD Cowen cut shares of Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th.

Insider Transactions at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 69,594 shares of Royalty Pharma stock in a transaction on Monday, November 17th. The stock was sold at an average price of $39.30, for a total value of $2,735,044.20. Following the completion of the transaction, the chief financial officer directly owned 54,760 shares in the company, valued at approximately $2,152,068. This trade represents a 55.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP George W. Lloyd sold 132,426 shares of Royalty Pharma stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total transaction of $5,077,212.84. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 274,614 shares of company stock valued at $10,662,321. Company insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital International Investors boosted its stake in shares of Royalty Pharma by 24.4% in the third quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock valued at $960,064,000 after buying an additional 5,332,074 shares in the last quarter. Swedbank AB lifted its stake in shares of Royalty Pharma by 0.4% during the third quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock valued at $430,426,000 after buying an additional 42,800 shares during the period. State Street Corp increased its stake in Royalty Pharma by 0.8% in the third quarter. State Street Corp now owns 10,272,753 shares of the biopharmaceutical company’s stock valued at $362,423,000 after purchasing an additional 77,815 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Royalty Pharma by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 8,176,504 shares of the biopharmaceutical company’s stock worth $299,494,000 after acquiring an additional 177,036 shares during the period. Finally, Norges Bank acquired a new position in shares of Royalty Pharma in the 2nd quarter valued at $181,388,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Trading Up 1.4%

NASDAQ:RPRX traded up $0.53 during mid-day trading on Friday, hitting $38.92. 3,164,604 shares of the stock traded hands, compared to its average volume of 4,041,777. Royalty Pharma has a 52 week low of $24.05 and a 52 week high of $41.24. The stock has a market capitalization of $22.47 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.02 and a beta of 0.56. The firm’s 50 day moving average is $37.04 and its two-hundred day moving average is $35.89. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.89.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. The firm had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. On average, equities research analysts predict that Royalty Pharma will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, November 14th. Royalty Pharma’s dividend payout ratio is presently 66.67%.

Royalty Pharma Company Profile

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.