Royalty Pharma (NASDAQ:RPRX) Reaches New 12-Month High – What’s Next?

Shares of Royalty Pharma PLC (NASDAQ:RPRX) reached a new 52-week high during trading on Friday . The company traded as high as $37.00 and last traded at $36.49, with a volume of 259 shares traded. The stock had previously closed at $36.59.

Analyst Upgrades and Downgrades

RPRX has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Morgan Stanley lifted their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Wall Street Zen cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Sunday, June 29th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus target price of $49.00.

Royalty Pharma Trading Up 0.2%

The firm has a market capitalization of $20.62 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 2.44 and a beta of 0.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a 50 day moving average price of $34.80 and a two-hundred day moving average price of $33.07.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The business had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. On average, equities research analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma’s dividend payout ratio is presently 47.57%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RPRX. American Century Companies Inc. increased its position in shares of Royalty Pharma by 5.8% in the fourth quarter. American Century Companies Inc. now owns 67,160 shares of the biopharmaceutical company’s stock worth $1,713,000 after acquiring an additional 3,671 shares in the last quarter. Sei Investments Co. increased its position in shares of Royalty Pharma by 58.1% in the fourth quarter. Sei Investments Co. now owns 109,557 shares of the biopharmaceutical company’s stock worth $2,795,000 after acquiring an additional 40,271 shares in the last quarter. Korea Investment CORP increased its position in shares of Royalty Pharma by 43.8% in the fourth quarter. Korea Investment CORP now owns 224,272 shares of the biopharmaceutical company’s stock worth $5,721,000 after acquiring an additional 68,300 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Royalty Pharma by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 256,189 shares of the biopharmaceutical company’s stock worth $6,620,000 after acquiring an additional 835 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its position in shares of Royalty Pharma by 32.5% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 45,225 shares of the biopharmaceutical company’s stock worth $1,154,000 after acquiring an additional 11,089 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Company Profile

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.