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

Shares of Royalty Pharma PLC (NASDAQ:RPRX) have earned an average rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $53.7143.

RPRX has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Weiss Ratings upgraded Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. UBS Group boosted their price target on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Citigroup upped their price target on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 34,791 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $49.78, for a total transaction of $1,731,895.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the transaction, the director owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. The trade was a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 155,893 shares of company stock valued at $7,512,360. Corporate insiders own 18.84% of the company’s stock.

Institutional Investors Weigh In On Royalty Pharma

Hedge funds have recently made changes to their positions in the company. ABS Direct Equity Fund LLC purchased a new position in Royalty Pharma during the 1st quarter valued at approximately $181,000. Gateway Wealth Partners LLC purchased a new stake in shares of Royalty Pharma during the 1st quarter worth approximately $565,000. OMERS ADMINISTRATION Corp boosted its position in shares of Royalty Pharma by 14.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 79,307 shares of the biopharmaceutical company’s stock valued at $3,804,000 after acquiring an additional 9,712 shares during the last quarter. Lombard Odier Asset Management Switzerland SA bought a new position in shares of Royalty Pharma during the 1st quarter valued at approximately $342,000. Finally, Dorsey Asset Management LLC grew its holdings in shares of Royalty Pharma by 0.8% in the first quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock valued at $109,207,000 after purchasing an additional 17,101 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $52.85 on Friday. The firm has a fifty day moving average price of $48.31 and a 200-day moving average price of $43.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market cap of $30.43 billion, a PE ratio of 35.95, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40. Royalty Pharma has a 1 year low of $32.15 and a 1 year high of $53.47.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $631.00 million for the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. Equities analysts anticipate that Royalty Pharma will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.235 per share. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.8%. Royalty Pharma’s dividend payout ratio is currently 63.95%.

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.