Wall Street Zen Downgrades Royalty Pharma (NASDAQ:RPRX) to Buy

Royalty Pharma (NASDAQ:RPRX) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also recently issued reports on the company. Weiss Ratings raised Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 14th. JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Royalty Pharma in a research note on Thursday, August 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $66.00 price target on shares of Royalty Pharma in a report on Thursday, August 6th. Finally, Bank of America reissued a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $61.29.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $58.21 on Friday. Royalty Pharma has a 1 year low of $34.63 and a 1 year high of $64.38. The stock has a 50-day moving average price of $59.57 and a two-hundred day moving average price of $54.54. The stock has a market cap of $33.47 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 1.37 and a beta of 0.44. The company has a current ratio of 2.80, a quick 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, topping analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The company had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. As a group, equities analysts expect that Royalty Pharma will post 5.32 earnings per share for the current year.

Insider Transactions at Royalty Pharma

In other Royalty Pharma news, EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the sale, the executive vice president owned 270,401 shares in the company, valued at approximately $15,826,570.53. The trade was a 27.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value 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 have sold 339,099 shares of company stock valued at $19,704,252. 18.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royalty Pharma

Several hedge funds have recently made changes to their positions in RPRX. LM Advisors LLC bought a new stake in shares of Royalty Pharma in the fourth quarter worth $26,000. Blue Trust Inc. grew its position in Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 437 shares in the last quarter. CoreCap Advisors LLC grew its position in Royalty Pharma by 89.2% in the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 413 shares in the last quarter. Bessemer Group Inc. increased its stake in Royalty Pharma by 34.7% in the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 282 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Royalty Pharma by 263.3% in the 2nd quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 861 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

About Royalty Pharma

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.

Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.