Royalty Pharma PLC (NASDAQ:RPRX) Given Average Recommendation of “Buy” by Analysts

Shares of Royalty Pharma PLC (NASDAQ:RPRXGet Free Report) have received a consensus rating of “Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $60.8571.

RPRX has been the subject of several recent analyst reports. Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Morgan Stanley restated an “overweight” rating and issued a $65.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Royalty Pharma in a report on Wednesday, August 12th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $66.00 price target on shares of Royalty Pharma in a research report on Thursday, August 6th.

Get Our Latest Stock Report on Royalty Pharma

Insider Activity

In related news, EVP Marshall Urist sold 9,099 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total value of $8,160,000.00. Following the completion of the sale, the executive vice president directly owned 559,399 shares in the company, valued at $30,431,305.60. This trade represents a 21.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 462,596 shares of company stock worth $25,989,538. Insiders own 18.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its position in Royalty Pharma by 25.2% during the 4th 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. California State Teachers Retirement System boosted its position in Royalty Pharma by 5,065.0% in the second quarter. California State Teachers Retirement System now owns 39,204,424 shares of the biopharmaceutical company’s stock valued at $2,198,192,000 after buying an additional 38,445,382 shares in the last quarter. Capital International Investors boosted its position in Royalty Pharma by 14.3% in the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after buying an additional 3,891,615 shares in the last quarter. State Street Corp grew its stake in shares of Royalty Pharma by 3.7% during the fourth quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock worth $411,502,000 after buying an additional 376,888 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Royalty Pharma by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after buying an additional 102,430 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

NASDAQ RPRX traded down $0.21 during midday trading on Monday, hitting $61.09. The company had a trading volume of 235,578 shares, compared to its average volume of 3,491,379. The company has a market capitalization of $35.13 billion, a PE ratio of 42.13, a P/E/G ratio of 1.43 and a beta of 0.43. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $57.36 and a 200-day moving average price of $51.87. Royalty Pharma has a twelve month low of $34.08 and a twelve month high of $62.13.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. The company had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. As a group, analysts anticipate that Royalty Pharma will post 5.3 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is currently 64.83%.

About Royalty Pharma

(Get Free Report)

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.

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Analyst Recommendations for Royalty Pharma (NASDAQ:RPRX)

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