Brokerages Set Royalty Pharma plc (NASDAQ:RPRX) Target Price at $49.50

Shares of Royalty Pharma plc (NASDAQ:RPRXGet Rating) have received an average recommendation of “Buy” from the six research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $49.50.

Several research firms have weighed in on RPRX. Morgan Stanley upgraded shares of Royalty Pharma from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $46.00 to $48.00 in a research note on Wednesday, April 6th. Zacks Investment Research lowered shares of Royalty Pharma from a “hold” rating to a “sell” rating in a research note on Wednesday, January 26th. JPMorgan Chase & Co. upgraded shares of Royalty Pharma from a “neutral” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research note on Thursday. They noted that the move was a valuation call. Finally, StockNews.com began coverage on shares of Royalty Pharma in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.

NASDAQ RPRX opened at $44.10 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 16.81 and a quick ratio of 16.81. The company’s 50 day simple moving average is $39.45 and its 200 day simple moving average is $39.25. Royalty Pharma has a 12 month low of $34.86 and a 12 month high of $47.10. The company has a market capitalization of $26.78 billion, a P/E ratio of 43.24, a PEG ratio of 1.25 and a beta of 0.74.

Royalty Pharma (NASDAQ:RPRXGet Rating) last released its quarterly earnings results on Tuesday, February 15th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. Royalty Pharma had a net margin of 27.07% and a return on equity of 17.29%. The business had revenue of $543.00 million for the quarter, compared to analyst estimates of $543.50 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. On average, analysts anticipate that Royalty Pharma will post 3.15 earnings per share for the current year.

In other news, Director Henry A. Fernandez acquired 32,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 24th. The stock was acquired at an average cost of $37.49 per share, with a total value of $1,218,425.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rory B. Riggs sold 60,000 shares of the company’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $38.59, for a total transaction of $2,315,400.00. The disclosure for this sale can be found here. Insiders sold 229,089 shares of company stock valued at $8,982,936 over the last three months. Insiders own 25.86% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of RPRX. OLD Mission Capital LLC bought a new stake in shares of Royalty Pharma during the 3rd quarter worth $1,211,000. Morgan Stanley boosted its holdings in shares of Royalty Pharma by 5.6% during the 2nd quarter. Morgan Stanley now owns 50,794,041 shares of the biopharmaceutical company’s stock worth $2,082,049,000 after buying an additional 2,675,799 shares during the period. Bank of America Corp DE boosted its holdings in shares of Royalty Pharma by 11.7% during the 2nd quarter. Bank of America Corp DE now owns 1,592,556 shares of the biopharmaceutical company’s stock worth $65,278,000 after buying an additional 166,677 shares during the period. Westpac Banking Corp raised its stake in Royalty Pharma by 52.5% during the 3rd quarter. Westpac Banking Corp now owns 29,734 shares of the biopharmaceutical company’s stock valued at $1,075,000 after purchasing an additional 10,242 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Royalty Pharma by 3.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 104,106 shares of the biopharmaceutical company’s stock valued at $3,762,000 after purchasing an additional 3,237 shares during the last quarter. 43.78% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Company Profile (Get Rating)

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.

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