Royalty Pharma PLC (NASDAQ:RPRX) Receives $49.00 Average Price Target from Analysts

Royalty Pharma PLC (NASDAQ:RPRX) has been given an average recommendation of “Buy” by the six analysts that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $50.3333.

A number of analysts have recently commented on RPRX shares. Citigroup boosted their price objective on Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. UBS Group boosted their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. Finally, Morgan Stanley boosted their price target on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th.

Royalty Pharma Stock Down 0.2%

Royalty Pharma stock opened at $49.64 on Tuesday. The stock has a market capitalization of $28.64 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 3.18 and a beta of 0.39. Royalty Pharma has a 12 month low of $31.58 and a 12 month high of $50.08. The business has a 50 day simple moving average of $46.87 and a 200-day simple moving average of $41.89. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $621.99 million during the quarter, compared to analysts’ expectations of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. On average, analysts anticipate that Royalty Pharma will post 5.08 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, May 15th. Royalty Pharma’s payout ratio is presently 69.63%.

Insider Activity at Royalty Pharma

In related news, EVP Marshall Urist sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $41.09, for a total transaction of $821,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Terrance P. Coyne sold 34,791 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $48.33, for a total value of $1,681,449.03. Following the sale, the chief financial officer owned 32,916 shares of the company’s stock, valued at $1,590,830.28. The trade was a 51.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 367,914 shares of company stock valued at $16,074,774 over the last quarter. 18.84% of the stock is owned by company insiders.

Institutional Trading of Royalty Pharma

Several large investors have recently made changes to their positions in RPRX. Morgan Stanley increased its position in shares of Royalty Pharma by 25.2% during the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after purchasing an additional 11,110,115 shares in the last quarter. Capital International Investors increased its position in shares of Royalty Pharma by 24.4% during the third quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after purchasing an additional 5,332,074 shares in the last quarter. Norges Bank purchased a new stake in shares of Royalty Pharma during the fourth quarter worth approximately $131,923,000. Dorsey Asset Management LLC purchased a new stake in shares of Royalty Pharma during the third quarter worth approximately $82,924,000. Finally, Qube Research & Technologies Ltd grew its holdings in Royalty Pharma by 737.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock valued at $87,557,000 after buying an additional 2,185,366 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Company Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.