Royalty Pharma (NASDAQ:RPRX) Sets New 1-Year High – Should You Buy?

Royalty Pharma PLC (NASDAQ:RPRX) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $35.43 and last traded at $35.36, with a volume of 753901 shares trading hands. The stock had previously closed at $34.86.

Analyst Ratings Changes

A number of analysts have weighed in on RPRX shares. Citigroup reissued a “buy” rating on shares of Royalty Pharma in a report on Friday, March 28th. Morgan Stanley began coverage on shares of Royalty Pharma in a research note on Friday, May 16th. They set an “overweight” rating and a $51.00 price target on the stock. Finally, Wall Street Zen raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Saturday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $47.33.

Royalty Pharma Stock Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a 50 day simple moving average of $33.14 and a two-hundred day simple moving average of $31.28. The company has a market cap of $19.88 billion, a PE ratio of 19.11, a PEG ratio of 1.79 and a beta of 0.48.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. Equities analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.49%. Royalty Pharma’s dividend payout ratio (DPR) is currently 47.57%.

Institutional Investors Weigh In On Royalty Pharma

Large investors have recently modified their holdings of the stock. Allworth Financial LP grew its position in Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 877 shares during the last quarter. Louisbourg Investments Inc. acquired a new stake in shares of Royalty Pharma in the 1st quarter worth $28,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Royalty Pharma by 76.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 414 shares in the last quarter. Riverview Trust Co boosted its holdings in shares of Royalty Pharma by 3,953.3% in the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 1,186 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of Royalty Pharma during the first quarter worth about $36,000. Hedge funds and other 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.