Analysts Set Royalty Pharma PLC (NASDAQ:RPRX) Price Target at $60.86

Royalty Pharma PLC (NASDAQ:RPRX) has been assigned an average rating of “Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $60.8571.

A number of equities research analysts have weighed in on RPRX shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Royalty Pharma in a research note on Wednesday, August 12th. Wall Street Zen cut shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Sunday. TD Cowen upped their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $66.00 price target on shares of Royalty Pharma in a report on Thursday, August 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Royalty Pharma in a research note on Thursday, August 6th.

Royalty Pharma Price Performance

RPRX opened at $60.85 on Monday. The company’s 50-day simple moving average is $58.16 and its two-hundred day simple moving average is $52.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. The stock has a market capitalization of $34.99 billion, a P/E ratio of 41.97, a P/E/G ratio of 1.42 and a beta of 0.43. Royalty Pharma has a 52-week low of $34.08 and a 52-week high of $62.46.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating 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 analysts’ expectations of $758.93 million. As a group, analysts predict that Royalty Pharma will post 5.3 EPS for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a yield of 1.5%. Royalty Pharma’s dividend payout ratio (DPR) is currently 64.83%.

Insider Activity

In related news, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total value of $5,997,000.00. Following the completion of the sale, the executive vice president owned 370,401 shares in the company, valued at approximately $22,212,947.97. This trade represents a 21.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of Royalty Pharma stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total transaction of $508,452.12. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 398,197 shares of company stock worth $22,513,280. 18.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors have recently made changes to their positions in RPRX. LM Advisors LLC purchased a new stake in Royalty Pharma in the 4th quarter valued at about $26,000. Lloyd Advisory Services LLC. acquired a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $30,000. Blue Trust Inc. boosted its stake in shares of Royalty Pharma by 173.4% during the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 437 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Royalty Pharma by 66.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 446 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Royalty Pharma by 31.9% in the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 306 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

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.