Royalty Pharma (NASDAQ:RPRX) Hits New 12-Month High – What’s Next?

Royalty Pharma PLC (NASDAQ:RPRX)’s share price reached a new 52-week high on Tuesday . The company traded as high as $38.04 and last traded at $37.9210, with a volume of 1398055 shares traded. The stock had previously closed at $37.30.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RPRX shares. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price for the company. Morgan Stanley cut their target price on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Wall Street Zen raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Citigroup boosted their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and an average price target of $46.00.

Royalty Pharma Stock Performance

The firm’s fifty day moving average price is $36.45 and its 200-day moving average price is $35.38. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The company has a market cap of $23.78 billion, a P/E ratio of 30.89, a P/E/G ratio of 2.22 and a beta of 0.56.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $609.29 million for the quarter, compared to analysts’ expectations of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.19%. As a group, research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. Royalty Pharma’s payout ratio is presently 66.67%.

Institutional Trading of Royalty Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RPRX. M&T Bank Corp increased its position in shares of Royalty Pharma by 23.4% during the first quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company’s stock worth $902,000 after acquiring an additional 5,500 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Royalty Pharma by 603.9% during the second quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock worth $23,701,000 after acquiring an additional 562,799 shares in the last quarter. Amalgamated Bank increased its position in shares of Royalty Pharma by 4.4% during the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company’s stock worth $636,000 after acquiring an additional 866 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in shares of Royalty Pharma by 55.1% during the second quarter. Cookson Peirce & Co. Inc. now owns 34,263 shares of the biopharmaceutical company’s stock worth $1,234,000 after acquiring an additional 12,171 shares in the last quarter. Finally, Koss Olinger Consulting LLC increased its position in shares of Royalty Pharma by 201.5% during the first quarter. Koss Olinger Consulting LLC now owns 31,756 shares of the biopharmaceutical company’s stock worth $989,000 after acquiring an additional 21,225 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

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.