Royalty Pharma (NASDAQ:RPRX) Releases Earnings Results, Beats Expectations By $0.06 EPS

Royalty Pharma (NASDAQ:RPRX) issued its earnings results on Wednesday. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.06, Zacks reports. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The business had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock traded down $2.22 during trading on Friday, reaching $38.56. The company’s stock had a trading volume of 9,328,437 shares, compared to its average volume of 3,016,805. The company has a quick ratio of 1.26, a current ratio of 3.48 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average price is $36.50 and its 200-day moving average price is $35.43. Royalty Pharma has a 52 week low of $24.05 and a 52 week high of $41.24. The firm has a market cap of $22.49 billion, a PE ratio of 29.21, a P/E/G ratio of 2.15 and a beta of 0.56.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. Royalty Pharma’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Trading of Royalty Pharma

Institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its holdings in shares of Royalty Pharma by 134.8% during the second quarter. Osaic Holdings Inc. now owns 7,104 shares of the biopharmaceutical company’s stock worth $254,000 after purchasing an additional 4,078 shares during the period. Orion Porfolio Solutions LLC grew its position in Royalty Pharma by 56.9% during the second quarter. Orion Porfolio Solutions LLC now owns 14,420 shares of the biopharmaceutical company’s stock worth $520,000 after buying an additional 5,231 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in Royalty Pharma during the second quarter worth approximately $1,048,000. Ewing Morris & Co. Investment Partners Ltd. bought a new position in Royalty Pharma during the 2nd quarter worth $1,028,000. Finally, Captrust Financial Advisors raised its holdings in Royalty Pharma by 4.4% in the 2nd quarter. Captrust Financial Advisors now owns 12,613 shares of the biopharmaceutical company’s stock valued at $454,000 after acquiring an additional 526 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RPRX shares. Wall Street Zen upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. The Goldman Sachs Group started coverage on Royalty Pharma in a research note on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price target on the stock. Weiss Ratings downgraded Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Citigroup lifted their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley dropped their price objective on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $46.00.

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.