Royalty Pharma plc (NASDAQ:RPRX) Receives $41.67 Average Price Target from Analysts

Shares of Royalty Pharma plc (NASDAQ:RPRX) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $41.67.

A number of equities research analysts have issued reports on RPRX shares. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Citigroup reduced their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th.

Royalty Pharma Stock Down 0.1 %

Shares of RPRX opened at $25.23 on Wednesday. The company’s 50-day simple moving average is $26.37 and its 200-day simple moving average is $27.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. Royalty Pharma has a 1 year low of $24.05 and a 1 year high of $31.66. The stock has a market capitalization of $14.87 billion, a PE ratio of 13.07, a P/E/G ratio of 4.36 and a beta of 0.46.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.33%. Royalty Pharma’s payout ratio is 43.52%.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors have recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in Royalty Pharma by 5.0% in the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock valued at $40,705,000 after buying an additional 70,130 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Royalty Pharma in the 3rd quarter valued at about $61,000. Sanctuary Advisors LLC increased its holdings in shares of Royalty Pharma by 78.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 41,466 shares of the biopharmaceutical company’s stock valued at $1,096,000 after acquiring an additional 18,288 shares during the last quarter. Hohimer Wealth Management LLC raised its position in shares of Royalty Pharma by 1.0% during the 3rd quarter. Hohimer Wealth Management LLC now owns 145,357 shares of the biopharmaceutical company’s stock worth $4,112,000 after acquiring an additional 1,445 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Royalty Pharma by 6.1% during the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after purchasing an additional 417,490 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Company Profile

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.