Royalty Pharma (NASDAQ:RPRX) Price Target Raised to $45.00

Royalty Pharma (NASDAQ:RPRX) had its price target boosted by TD Cowen from $42.00 to $45.00 in a research note released on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on the company. Morgan Stanley cut their price objective on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price target for the company. Weiss Ratings cut shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research report on Thursday. Finally, Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Royalty Pharma has a consensus rating of “Moderate Buy” and an average target price of $45.60.

Royalty Pharma Trading Down 1.1%

Shares of Royalty Pharma stock opened at $38.39 on Thursday. The firm has a 50-day simple moving average of $38.12 and a two-hundred day simple moving average of $36.57. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. Royalty Pharma has a fifty-two week low of $24.05 and a fifty-two week high of $41.24. The company has a market cap of $22.16 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 2.02 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last announced 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 analyst estimates of $765.01 million. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%. As a group, equities analysts predict that Royalty Pharma will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, November 14th. Royalty Pharma’s dividend payout ratio is 66.67%.

Insider Buying and Selling

In other Royalty Pharma news, EVP Marshall Urist sold 23,334 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $39.15, for a total value of $913,526.10. Following the transaction, the executive vice president directly owned 160,000 shares of the company’s stock, valued at $6,264,000. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP George W. Lloyd sold 132,426 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total value of $5,077,212.84. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 606,929 shares of company stock worth $23,780,885. 18.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Royalty Pharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors grew its holdings 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 purchasing an additional 5,332,074 shares during the period. Swedbank AB boosted its holdings in Royalty Pharma by 0.4% in the 3rd quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock valued at $430,426,000 after purchasing an additional 42,800 shares during the last quarter. State Street Corp grew its stake in shares of Royalty Pharma by 0.8% in the 3rd quarter. State Street Corp now owns 10,272,753 shares of the biopharmaceutical company’s stock valued at $362,423,000 after buying an additional 77,815 shares during the period. Geode Capital Management LLC grew its stake in shares of Royalty Pharma by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 8,176,504 shares of the biopharmaceutical company’s stock valued at $299,494,000 after buying an additional 177,036 shares during the period. Finally, Norges Bank acquired a new stake in shares of Royalty Pharma during the 2nd quarter worth approximately $181,388,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

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.