Royalty Pharma (NASDAQ:RPRX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Royalty Pharma (NASDAQ:RPRX) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Other equities analysts have also recently issued reports about the company. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Royalty Pharma in a research note on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and issued a $66.00 price target on shares of Royalty Pharma in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Royalty Pharma in a report on Wednesday, August 12th. JPMorgan Chase & Co. increased their price objective 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, TD Cowen raised their price objective on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Royalty Pharma has an average rating of “Buy” and a consensus price target of $60.86.

Royalty Pharma Trading Up 0.0%

NASDAQ:RPRX opened at $61.33 on Friday. The stock has a market cap of $35.26 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 1.43 and a beta of 0.43. Royalty Pharma has a one year low of $34.08 and a one year high of $62.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. The business’s 50-day simple moving average is $57.51 and its 200 day simple moving average is $52.00.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The firm had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. As a group, sell-side analysts predict that Royalty Pharma will post 5.3 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a yield of 1.5%. Royalty Pharma’s dividend payout ratio is presently 64.83%.

Insider Buying and Selling

In other news, EVP Marshall Urist sold 9,099 shares of Royalty Pharma stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total value of $8,160,000.00. Following the completion of the sale, the executive vice president owned 559,399 shares of the company’s stock, valued at $30,431,305.60. This trade represents a 21.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 398,197 shares of company stock worth $22,513,280. 18.84% of the stock is currently owned by company insiders.

Institutional Trading of Royalty Pharma

Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its stake in Royalty Pharma by 5,065.0% in the second quarter. California State Teachers Retirement System now owns 39,204,424 shares of the biopharmaceutical company’s stock valued at $2,198,192,000 after acquiring an additional 38,445,382 shares during the period. Morgan Stanley raised its position in shares of Royalty Pharma by 25.2% during the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after purchasing an additional 11,110,115 shares during the period. Capital International Investors raised its position in shares of Royalty Pharma by 14.3% during the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock worth $1,201,870,000 after purchasing an additional 3,891,615 shares during the period. Norges Bank bought a new stake in shares of Royalty Pharma in the 4th quarter worth approximately $131,923,000. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Royalty Pharma by 737.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock worth $87,557,000 after purchasing an additional 2,185,366 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

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.