Royalty Pharma (NASDAQ:RPRX) Price Target Raised to $58.00

Royalty Pharma (NASDAQ:RPRXGet Free Report) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $50.00 to $58.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 15.75% from the stock’s current price.

RPRX has been the topic of a number of other research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. Weiss Ratings raised Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Morgan Stanley raised their price target on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $51.43.

View Our Latest Stock Report on Royalty Pharma

Royalty Pharma Stock Down 1.2%

RPRX stock traded down $0.61 during trading on Thursday, reaching $50.11. 2,684,092 shares of the company traded hands, compared to its average volume of 3,504,168. Royalty Pharma has a 12 month low of $32.15 and a 12 month high of $51.65. The business has a 50 day simple moving average of $47.52 and a 200 day simple moving average of $42.66. The company has a market capitalization of $28.91 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 3.22 and a beta of 0.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%.The company had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. On average, equities research analysts anticipate that Royalty Pharma will post 5.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Terrance P. Coyne sold 34,791 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $49.78, for a total value of $1,731,895.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 139,164 shares of company stock valued at $6,624,902 in the last 90 days. 18.84% of the stock is owned by corporate insiders.

Institutional Trading of Royalty Pharma

Large investors have recently made changes to their positions in the business. Morgan Stanley raised its holdings in shares of Royalty Pharma by 25.2% during the fourth 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 last quarter. Capital International Investors grew its position in Royalty Pharma by 24.4% during the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after purchasing an additional 5,332,074 shares during the period. Norges Bank acquired a new stake in Royalty Pharma during the 4th quarter worth about $131,923,000. Dorsey Asset Management LLC purchased a new position in shares of Royalty Pharma during the 3rd quarter valued at about $82,924,000. Finally, Qube Research & Technologies Ltd raised its stake in shares of Royalty Pharma by 737.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock valued at $87,557,000 after buying an additional 2,185,366 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

More Royalty Pharma News

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Royalty Pharma Company Profile

(Get Free Report)

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.

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