Citigroup Trims Royalty Pharma (NASDAQ:RPRX) Target Price to $40.00

by · The Markets Daily

Royalty Pharma (NASDAQ:RPRX – Free Report) had its price target lowered by Citigroup from $60.00 to $40.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently commented on the company. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. The Goldman Sachs Group lifted their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley boosted their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

View Our Latest Analysis on Royalty Pharma

Royalty Pharma Trading Down 1.2 %

RPRX opened at $26.95 on Friday. Royalty Pharma has a 12-month low of $25.20 and a 12-month high of $31.66. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. The stock has a market capitalization of $16.10 billion, a PE ratio of 20.11, a P/E/G ratio of 4.03 and a beta of 0.46. The firm’s fifty day moving average price is $28.02 and its 200 day moving average price is $27.60.

Royalty Pharma (NASDAQ:RPRX – Get Free Report) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $537.00 million for the quarter, compared to analyst estimates of $600.83 million. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. During the same quarter in the prior year, the business posted $0.85 EPS. As a group, research analysts expect that Royalty Pharma will post 4.05 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is 62.69%.

Institutional Trading of Royalty Pharma

A number of large investors have recently modified their holdings of the company. Versant Capital Management Inc grew its position in Royalty Pharma by 5,215.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 1,043 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of Royalty Pharma during the second quarter worth approximately $32,000. Blue Trust Inc. grew its holdings in Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Royalty Pharma in the 1st quarter valued at approximately $46,000. Finally, EverSource Wealth Advisors LLC raised its stake in Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 655 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

About Royalty Pharma

(Get Free Report)

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.

See Also