Royalty Pharma PLC (NASDAQ:RPRX) Stock Has Consensus Target Price of $63.29 According to Brokerages

Royalty Pharma PLC (NASDAQ:RPRX) has received an average rating of “Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $63.29.

Several analysts have recently weighed in on RPRX shares. Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Morgan Stanley increased their target price on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. TD Cowen raised their price target on shares of Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th.

Insider Buying and Selling

In other Royalty Pharma news, EVP Marshall Urist sold 4,126 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $57.10, for a total value of $235,594.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 208,252 shares of company stock worth $12,324,407. 18.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in Royalty Pharma by 29.0% during the 1st quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock worth $167,696,000 after purchasing an additional 786,921 shares in the last quarter. Amundi lifted its holdings in shares of Royalty Pharma by 15.3% in the first quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company’s stock valued at $148,168,000 after purchasing an additional 409,394 shares in the last quarter. Dorsey Asset Management LLC lifted its holdings in shares of Royalty Pharma by 0.8% in the first quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock valued at $109,207,000 after purchasing an additional 17,101 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Royalty Pharma by 2,562.2% in the first quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock valued at $74,000,000 after purchasing an additional 1,486,020 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Royalty Pharma by 28.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,168,427 shares of the biopharmaceutical company’s stock valued at $68,189,000 after buying an additional 256,841 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Trading Down 0.4%

RPRX traded down $0.27 during trading on Friday, hitting $67.30. The company’s stock had a trading volume of 4,835,293 shares, compared to its average volume of 3,199,374. Royalty Pharma has a twelve month low of $37.31 and a twelve month high of $69.77. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average price is $60.82 and its 200-day moving average price is $53.81. The firm has a market capitalization of $38.70 billion, a P/E ratio of 56.08, a PEG ratio of 1.82 and a beta of 0.37.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The firm had revenue of $674.14 million for the quarter, compared to analysts’ expectations of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. Analysts anticipate that Royalty Pharma will post 5.34 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a $0.2350 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Royalty Pharma’s payout ratio is presently 78.33%.

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.

Founded in 1996 by Pablo Legorreta, the company became publicly listed in 2020.