Royalty Pharma (NASDAQ:RPRX) Cut to Sell at Zacks Investment Research

Royalty Pharma (NASDAQ:RPRXGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Royalty Pharma plc is a funder of biopharmaceutical industry. The compnay’s portfolio includes royalties on commercial products, including AbbVie and J&J’s Imbruvica, Astellas and Pfizer’s Xtandi, Biogen’s Tysabri, Gilead’s HIV franchise, Merck’s Januvia, Novartis’ Promacta and Vertex’s Kalydeco, Symdeko and Trikafta, and development-stage product candidates. Royalty Pharma plc is based in NEW YORK. “

Several other equities analysts have also weighed in on the company. Morgan Stanley raised Royalty Pharma from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $46.00 to $48.00 in a report on Wednesday, April 6th. StockNews.com began coverage on Royalty Pharma in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded Royalty Pharma from a “neutral” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research report on Thursday, April 14th. They noted that the move was a valuation call. Finally, The Goldman Sachs Group assumed coverage on Royalty Pharma in a research note on Wednesday, April 27th. They issued a “buy” rating and a $56.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $48.83.

NASDAQ RPRX traded up $0.87 on Tuesday, hitting $38.40. 12,093 shares of the stock traded hands, compared to its average volume of 1,933,442. The business’s fifty day moving average is $40.47 and its two-hundred day moving average is $39.94. Royalty Pharma has a 12 month low of $34.86 and a 12 month high of $47.10. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 1.19 and a beta of 0.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 16.81 and a current ratio of 16.81.

Royalty Pharma (NASDAQ:RPRXGet Rating) last announced its quarterly earnings data on Tuesday, February 15th. The biopharmaceutical company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. Royalty Pharma had a return on equity of 16.67% and a net margin of 26.46%. The business had revenue of $543.00 million during the quarter, compared to analyst estimates of $543.50 million. During the same period in the prior year, the company earned $0.28 earnings per share. Analysts expect that Royalty Pharma will post 3 EPS for the current fiscal year.

In related news, Director Henry A. Fernandez bought 32,500 shares of the business’s stock in a transaction on Thursday, February 24th. The stock was acquired at an average price of $37.49 per share, with a total value of $1,218,425.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Rory B. Riggs sold 129,222 shares of Royalty Pharma stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $39.55, for a total transaction of $5,110,730.10. The disclosure for this sale can be found here. Insiders have sold 229,089 shares of company stock valued at $8,982,936 over the last quarter. Company insiders own 25.86% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Citigroup Inc. grew its position in shares of Royalty Pharma by 11.0% during the 3rd quarter. Citigroup Inc. now owns 130,558 shares of the biopharmaceutical company’s stock valued at $4,718,000 after acquiring an additional 12,913 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Royalty Pharma by 425.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 81,826 shares of the biopharmaceutical company’s stock valued at $2,957,000 after acquiring an additional 66,250 shares during the period. Morgan Stanley grew its position in shares of Royalty Pharma by 12.8% during the 3rd quarter. Morgan Stanley now owns 57,305,311 shares of the biopharmaceutical company’s stock valued at $2,071,013,000 after acquiring an additional 6,511,270 shares during the period. CWA Asset Management Group LLC lifted its stake in shares of Royalty Pharma by 51.0% during the 3rd quarter. CWA Asset Management Group LLC now owns 300,595 shares of the biopharmaceutical company’s stock valued at $10,864,000 after buying an additional 101,564 shares in the last quarter. Finally, AlphaCrest Capital Management LLC purchased a new position in shares of Royalty Pharma during the 3rd quarter valued at $3,045,000. 51.68% of the stock is owned by hedge funds and other institutional investors.

About Royalty Pharma (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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