Royalty Pharma (NASDAQ:RPRX) Now Covered by Scotiabank

Investment analysts at Scotiabank started coverage on shares of Royalty Pharma (NASDAQ:RPRXGet Rating) in a report released on Friday, The Fly reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. upgraded shares of Royalty Pharma from a “neutral” rating to an “overweight” rating and set a $50.00 price target on the stock in a research report on Thursday, April 14th. They noted that the move was a valuation call. The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a research note on Wednesday, April 27th. They set a “buy” rating and a $56.00 price objective on the stock. Morgan Stanley raised 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. StockNews.com initiated coverage on shares of Royalty Pharma in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research downgraded shares of Royalty Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $48.83.

RPRX stock opened at $38.95 on Friday. The company’s 50 day simple moving average is $40.41 and its 200-day simple moving average is $39.91. The firm has a market capitalization of $23.65 billion, a PE ratio of 38.95, a P/E/G ratio of 1.03 and a beta of 0.36. Royalty Pharma has a 12 month low of $34.86 and a 12 month high of $47.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 21.95 and a quick ratio of 21.95.

Royalty Pharma (NASDAQ:RPRXGet Rating) last released its quarterly earnings results on Tuesday, February 15th. The biopharmaceutical company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. The business had revenue of $543.00 million for the quarter, compared to analyst estimates of $543.50 million. Royalty Pharma had a net margin of 26.46% and a return on equity of 16.75%. During the same period in the prior year, the business earned $0.28 earnings per share. As a group, sell-side analysts anticipate that Royalty Pharma will post 3 earnings per share for the current year.

In related news, Director Rory B. Riggs sold 129,222 shares of Royalty Pharma stock in a transaction on Friday, March 18th. The shares were sold at an average price of $39.55, for a total transaction of $5,110,730.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rory B. Riggs sold 60,000 shares of Royalty Pharma stock in a transaction on Tuesday, March 29th. The shares were 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. In the last ninety days, insiders have sold 229,089 shares of company stock worth $8,982,936. 25.86% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. Signaturefd LLC increased its stake in Royalty Pharma by 53.9% during the 1st quarter. Signaturefd LLC now owns 688 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 241 shares during the period. Arizona State Retirement System increased its stake in Royalty Pharma by 0.5% during the 3rd quarter. Arizona State Retirement System now owns 49,613 shares of the biopharmaceutical company’s stock worth $1,793,000 after buying an additional 246 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Royalty Pharma by 0.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 32,621 shares of the biopharmaceutical company’s stock worth $1,179,000 after buying an additional 265 shares during the period. Humankind Investments LLC increased its stake in Royalty Pharma by 4.6% during the 4th quarter. Humankind Investments LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 269 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in Royalty Pharma by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 57,580 shares of the biopharmaceutical company’s stock worth $2,243,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 51.68% of the company’s stock.

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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