Royalty Pharma (NASDAQ:RPRX) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Royalty Pharma (NASDAQ:RPRX) in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $42.00 price target on the biopharmaceutical company’s stock.

RPRX has been the subject of a number of other reports. Morgan Stanley increased their price target 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. Wall Street Zen downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Citigroup raised their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $46.00.

Royalty Pharma Price Performance

RPRX stock opened at $36.49 on Tuesday. Royalty Pharma has a 1 year low of $24.05 and a 1 year high of $38.00. The company has a market cap of $21.28 billion, a P/E ratio of 21.09, a PEG ratio of 2.27 and a beta of 0.60. The firm has a 50-day moving average of $36.29 and a 200 day moving average of $34.53. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The company had revenue of $578.67 million during the quarter, compared to the consensus estimate of $750.06 million. On average, sell-side analysts forecast that Royalty Pharma will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. Royalty Pharma’s dividend payout ratio (DPR) is currently 50.87%.

Hedge Funds Weigh In On Royalty Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Merit Financial Group LLC bought a new stake in shares of Royalty Pharma during the first quarter valued at approximately $252,000. M&T Bank Corp increased its position in shares of Royalty Pharma by 23.4% during the first quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company’s stock valued at $902,000 after acquiring an additional 5,500 shares in the last quarter. Yousif Capital Management LLC bought a new stake in shares of Royalty Pharma during the first quarter valued at approximately $275,000. Asset Management One Co. Ltd. increased its position in shares of Royalty Pharma by 8.0% during the first quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company’s stock valued at $5,134,000 after acquiring an additional 12,148 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Royalty Pharma by 4.4% during the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company’s stock valued at $636,000 after acquiring an additional 866 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

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.