Royalty Pharma (NASDAQ:RPRX) Cut to Hold at StockNews.com

StockNews.com lowered shares of Royalty Pharma (NASDAQ:RPRX) from a buy rating to a hold rating in a report published on Monday.

Several other research analysts also recently commented on RPRX. UBS Group downgraded shares of Royalty Pharma from a buy rating to a neutral rating and set a $28.00 price target on the stock. in a research note on Monday, June 3rd. The Goldman Sachs Group lifted their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a buy rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley boosted their price target on Royalty Pharma from $48.00 to $51.00 and gave the company an overweight rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Royalty Pharma has a consensus rating of Moderate Buy and an average target price of $42.00.

Royalty Pharma Stock Down 0.8 %

Shares of NASDAQ RPRX opened at $27.55 on Monday. Royalty Pharma has a 1 year low of $25.20 and a 1 year high of $31.66. The firm has a 50-day simple moving average of $27.76 and a two-hundred day simple moving average of $28.11. The company has a market cap of $16.35 billion, a P/E ratio of 20.56, a PEG ratio of 4.23 and a beta of 0.46. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The firm had revenue of $537.00 million during the quarter, compared to analyst estimates of $600.83 million. During the same period last year, the company earned $0.85 EPS. Research analysts anticipate that Royalty Pharma will post 4.04 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, August 16th. This represents a $0.84 dividend on an annualized basis and a yield of 3.05%. Royalty Pharma’s payout ratio is 62.69%.

Institutional Investors Weigh In On Royalty Pharma

A number of large investors have recently made changes to their positions in RPRX. Swedbank AB raised its stake in Royalty Pharma by 30.6% in the 2nd quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock worth $285,151,000 after acquiring an additional 2,533,570 shares during the last quarter. Norges Bank purchased a new position in shares of Royalty Pharma in the fourth quarter worth about $119,740,000. New South Capital Management Inc. raised its stake in shares of Royalty Pharma by 60.7% in the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock worth $61,943,000 after purchasing an additional 887,522 shares during the last quarter. Homestead Advisers Corp lifted its holdings in shares of Royalty Pharma by 40.7% during the first quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock worth $57,502,000 after purchasing an additional 547,000 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Royalty Pharma by 10.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,856,998 shares of the biopharmaceutical company’s stock valued at $56,396,000 after buying an additional 175,261 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

About Royalty Pharma

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.