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

Royalty Pharma PLC (NASDAQ:RPRX) has received a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $53.7143.

A number of equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. increased their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. UBS Group upped their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Morgan Stanley raised their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th.

Insider Transactions at Royalty Pharma

In other news, Director Gregory Norden sold 3,045 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the sale, the director directly owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.06, for a total transaction of $726,073.04. Following the transaction, the executive vice president owned 31,881 shares in the company, valued at approximately $1,691,605.86. This trade represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 427,800 shares of company stock worth $23,333,723. 18.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its stake in shares of Royalty Pharma by 28.0% during the second quarter. Handelsbanken Fonder AB now owns 557,028 shares of the biopharmaceutical company’s stock worth $31,233,000 after buying an additional 121,761 shares during the period. Assenagon Asset Management S.A. increased its position in Royalty Pharma by 16.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 22,668 shares of the biopharmaceutical company’s stock valued at $1,271,000 after acquiring an additional 3,226 shares during the period. GAMMA Investing LLC raised its stake in Royalty Pharma by 16.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 789 shares during the last quarter. CoreCap Advisors LLC raised its stake in Royalty Pharma by 89.2% during the 2nd quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 413 shares during the last quarter. Finally, Eastern Bank lifted its position in Royalty Pharma by 5.4% during the 2nd quarter. Eastern Bank now owns 694,925 shares of the biopharmaceutical company’s stock worth $38,964,000 after acquiring an additional 35,547 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Down 2.6%

Shares of NASDAQ RPRX traded down $1.53 during mid-day trading on Friday, hitting $56.43. The company had a trading volume of 2,518,723 shares, compared to its average volume of 3,280,736. The company has a market capitalization of $32.49 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 1.55 and a beta of 0.43. The business’s 50-day simple moving average is $54.35 and its 200 day simple moving average is $47.90. Royalty Pharma has a 1-year low of $34.08 and a 1-year high of $58.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, analysts predict that Royalty Pharma will post 5.06 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $0.235 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. Royalty Pharma’s dividend payout ratio is 63.95%.

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.