Royalty Pharma (NASDAQ:RPRX) Raised to “Buy” at StockNews.com

Royalty Pharma (NASDAQ:RPRX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other analysts have also recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Morgan Stanley raised their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Citigroup cut their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.67.

Royalty Pharma Stock Performance

Shares of RPRX opened at $27.20 on Tuesday. The firm has a 50-day moving average of $27.95 and a 200-day moving average of $27.56. Royalty Pharma has a one year low of $25.20 and a one year high of $31.66. The company has a market cap of $16.14 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $600.83 million. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. During the same quarter last year, the company posted $0.85 EPS. As a group, equities analysts forecast that Royalty Pharma will post 4.05 earnings per share for the current year.

Hedge Funds Weigh In On Royalty Pharma

Several hedge funds have recently bought and sold shares of the company. Xponance Inc. increased its holdings in Royalty Pharma by 1.9% in the 2nd quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock valued at $836,000 after buying an additional 606 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 655 shares during the period. Values First Advisors Inc. increased its holdings in Royalty Pharma by 7.6% in the 3rd quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company’s stock valued at $295,000 after buying an additional 738 shares during the period. Phillips Wealth Planners LLC increased its holdings in Royalty Pharma by 10.2% in the 3rd quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company’s stock valued at $246,000 after buying an additional 808 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Royalty Pharma by 10.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,097 shares of the biopharmaceutical company’s stock valued at $276,000 after buying an additional 887 shares during the period. 54.35% of the stock is owned by institutional investors.

About Royalty Pharma

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.