Royalty Pharma PLC (NASDAQ:RPRX) Stock Has Average Price Target of $61.57

Royalty Pharma PLC (NASDAQ:RPRX) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $61.57.

A number of equities research analysts recently weighed in on RPRX shares. Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 14th. The Goldman Sachs Group restated a “buy” rating and issued a $66.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. Morgan Stanley increased their price target on shares of Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Finally, TD Cowen boosted their price objective on shares of Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th.

Insider Activity

In other news, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the sale, the executive vice president owned 270,401 shares of the company’s stock, valued at approximately $15,826,570.53. This represents a 27.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 208,252 shares of company stock worth $12,324,407 in the last ninety days. Insiders own 18.84% of the company’s stock.

Institutional Trading of Royalty Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. NorthCrest Asset Manangement LLC boosted its position in shares of Royalty Pharma by 41.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 6,705 shares of the biopharmaceutical company’s stock worth $377,000 after purchasing an additional 1,961 shares during the last quarter. Wedmont Private Capital increased its holdings in Royalty Pharma by 17.8% in the third quarter. Wedmont Private Capital now owns 8,902 shares of the biopharmaceutical company’s stock valued at $500,000 after purchasing an additional 1,345 shares during the last quarter. Legacy Wealth Asset Management LLC bought a new stake in Royalty Pharma in the third quarter valued at about $356,000. Congress Asset Management Co. bought a new stake in Royalty Pharma in the third quarter valued at about $30,761,000. Finally, Ridgewood Investments LLC acquired a new position in Royalty Pharma in the third quarter valued at about $208,000. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Royalty Pharma stock traded down $0.45 during mid-day trading on Tuesday, hitting $57.33. 1,191,300 shares of the company were exchanged, compared to its average volume of 3,410,273. Royalty Pharma has a 1-year low of $35.50 and a 1-year high of $64.38. The company has a market capitalization of $32.96 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 1.34 and a beta of 0.42. The business has a fifty day moving average of $59.29 and a 200 day moving average of $55.43. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The firm had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. As a group, sell-side analysts expect that Royalty Pharma will post 5.32 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 14th were given a dividend of $0.2350 per share. The ex-dividend date was Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a yield of 1.6%. Royalty Pharma’s dividend payout ratio is presently 64.83%.

About Royalty Pharma

Royalty Pharma plc is a biopharmaceutical royalty acquisition company that provides funding to life sciences companies in exchange for rights to future payments associated with approved or development-stage medicines. Its business model gives biotechnology and pharmaceutical companies access to capital while allowing Royalty Pharma to participate in the commercial success of therapies without directly developing or marketing them.

The company invests in royalties and other economic interests tied to a broad range of biopharmaceutical products, including treatments for cancer, rare diseases, immune disorders, diabetes and other chronic conditions.