Royalty Pharma (NASDAQ:RPRX) Stock Price Up 3.3% – Here’s What Happened

by · The Cerbat Gem

Royalty Pharma PLC (NASDAQ:RPRX – Get Free Report)’s share price shot up 3.3% during trading on Wednesday. The company traded as high as $58.45 and last traded at $58.4550. 722,411 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 3,411,027 shares. The stock had previously closed at $56.57.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. TD Cowen upped their price target on Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Weiss Ratings upgraded Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $66.00 price objective on shares of Royalty Pharma in a research note on Thursday, August 6th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Morgan Stanley boosted their price objective on Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Eight equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $61.57.

Get Our Latest Stock Analysis on RPRX

Royalty Pharma Price Performance

The stock has a market capitalization of $34.28 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 1.62 and a beta of 0.42. The business’s fifty day moving average price is $59.34 and its 200-day moving average price is $55.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80.

Royalty Pharma (NASDAQ:RPRX – Get Free Report) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The company had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. On average, research analysts forecast that Royalty Pharma PLC will post 5.29 EPS for the current year.

Insider Buying and Selling

In other news, EVP Marshall Urist sold 4,126 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $57.10, for a total value of $235,594.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the transaction, the executive vice president owned 270,401 shares in the company, valued at $15,826,570.53. This represents a 27.00% decrease in their position. 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. Insiders have sold a total of 208,252 shares of company stock valued at $12,324,407 over the last three months. Corporate insiders own 18.84% of the company’s stock.

Institutional Investors Weigh In On Royalty Pharma

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in Royalty Pharma by 29.0% during the 1st quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock valued at $167,696,000 after acquiring an additional 786,921 shares in the last quarter. Amundi boosted its holdings in Royalty Pharma by 15.3% during the first quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company’s stock worth $148,168,000 after purchasing an additional 409,394 shares during the last quarter. Dorsey Asset Management LLC boosted its holdings in Royalty Pharma by 0.8% during the first quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock worth $109,207,000 after purchasing an additional 17,101 shares during the last quarter. Hsbc Holdings PLC grew its position in Royalty Pharma by 2,562.2% in the 1st quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock worth $74,000,000 after purchasing an additional 1,486,020 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Royalty Pharma by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,273,705 shares of the biopharmaceutical company’s stock valued at $61,100,000 after acquiring an additional 5,661 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

About Royalty Pharma

(Get Free Report)

Royalty Pharma plc is a biopharmaceutical royalty acquisition company that provides funding to life sciences companies in exchange for rights to future payments associated with approved or development-stage medicines. Its business model gives biotechnology and pharmaceutical companies access to capital while allowing Royalty Pharma to participate in the commercial success of therapies without directly developing or marketing them.

The company invests in royalties and other economic interests tied to a broad range of biopharmaceutical products, including treatments for cancer, rare diseases, immune disorders, diabetes and other chronic conditions.

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