Royalty Pharma (NASDAQ:RPRX) Raised to Strong-Buy at Zacks Research

Royalty Pharma (NASDAQ:RPRX) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

Several other brokerages also recently commented on RPRX. Citigroup upped their price target on shares of Royalty Pharma from $70.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, November 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Royalty Pharma in a research note on Thursday, August 6th. Morgan Stanley increased their target price on Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $63.29.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $68.97 on Wednesday. The firm has a market capitalization of $39.66 billion, a price-to-earnings ratio of 57.48, a PEG ratio of 1.39 and a beta of 0.37. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50 day simple moving average of $61.41 and a 200-day simple moving average of $54.39. Royalty Pharma has a 1 year low of $37.31 and a 1 year high of $70.37.

Insiders Place Their Bets

In related news, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $57.10, for a total value of $235,594.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma 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 completion of the sale, the executive vice president directly owned 270,401 shares in the company, valued at $15,826,570.53. This represents a 27.00% 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. Insiders sold 208,252 shares of company stock valued at $12,324,407 in the last ninety days. 18.84% of the stock is owned by corporate insiders.

Institutional Trading of Royalty Pharma

Several large investors have recently bought and sold shares of RPRX. Greenleaf Trust grew its position in shares of Royalty Pharma by 5.5% in the third quarter. Greenleaf Trust now owns 4,385 shares of the biopharmaceutical company’s stock valued at $256,000 after purchasing an additional 228 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Royalty Pharma by 1.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 15,170 shares of the biopharmaceutical company’s stock valued at $969,000 after acquiring an additional 247 shares during the period. Glenmede Trust Co. NA raised its position in Royalty Pharma by 3.4% in the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock valued at $375,000 after purchasing an additional 254 shares during the period. MBL Wealth LLC grew its stake in shares of Royalty Pharma by 7.3% in the third quarter. MBL Wealth LLC now owns 3,908 shares of the biopharmaceutical company’s stock valued at $228,000 after buying an additional 266 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Royalty Pharma by 5.7% in the third quarter. Ritholtz Wealth Management now owns 4,955 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding. The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.