Royalty Pharma PLC (NASDAQ:RPRX) Stock Has Consensus Price Target of $61.29 According to Brokerages

by · The Cerbat Gem

Royalty Pharma PLC (NASDAQ:RPRX – Get Free Report) has received an average rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $61.29.

RPRX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Royalty Pharma in a report on Thursday, August 6th. Bank of America reissued a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. Finally, TD Cowen raised their target price on shares of Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th.

Get Our Latest Report on Royalty Pharma

Insider Activity at Royalty Pharma

In other news, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the transaction, the executive vice president owned 270,401 shares of the company’s stock, valued at approximately $15,826,570.53. This represents a 27.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. 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 339,099 shares of company stock valued at $19,704,252 over the last 90 days. Company insiders own 18.84% of the company’s stock.

Institutional Trading of Royalty Pharma

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of Royalty Pharma by 14.3% during the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock worth $1,201,870,000 after buying an additional 3,891,615 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Royalty Pharma by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock valued at $297,465,000 after acquiring an additional 102,430 shares during the period. Bank of America Corp DE grew its stake in shares of Royalty Pharma by 29.0% in the first quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock valued at $167,696,000 after acquiring an additional 786,921 shares in the last quarter. Norges Bank acquired a new position in shares of Royalty Pharma in the fourth quarter valued at about $131,923,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Royalty Pharma by 0.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,313,265 shares of the biopharmaceutical company’s stock worth $128,025,000 after acquiring an additional 31,091 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Trading Up 1.1%

Royalty Pharma stock opened at $58.29 on Friday. Royalty Pharma has a 52 week low of $34.63 and a 52 week high of $64.38. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. The stock has a market capitalization of $33.52 billion, a P/E ratio of 40.20, a PEG ratio of 1.38 and a beta of 0.44. The stock has a 50-day simple moving average of $59.57 and a 200 day simple moving average of $54.45.

Royalty Pharma (NASDAQ:RPRX – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The company had revenue of $674.14 million during the quarter, compared to analysts’ expectations of $758.93 million. Analysts expect that Royalty Pharma will post 5.32 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 14th were issued a $0.2350 dividend. This represents a $0.94 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 14th. Royalty Pharma’s dividend payout ratio is currently 64.83%.

About Royalty Pharma

(Get Free Report)

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.

Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.

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