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

by · The Markets Daily

Royalty Pharma PLC (NASDAQ:RPRX – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.69 and last traded at $36.51, with a volume of 2817170 shares trading hands. The stock had previously closed at $36.24.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RPRX. Citigroup reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. Wall Street Zen lowered Royalty Pharma from a “buy” rating to a “hold” rating in a report on Sunday, June 29th. Finally, Morgan Stanley set a $54.00 price objective on Royalty Pharma and gave the stock an “overweight” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $48.33.

Read Our Latest Analysis on RPRX

Royalty Pharma Trading Up 0.1%

The stock has a market cap of $19.97 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.37 and a beta of 0.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a 50-day moving average price of $34.44 and a 200-day moving average price of $32.60.

Royalty Pharma (NASDAQ:RPRX – Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. On average, equities research analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.48%. Royalty Pharma’s payout ratio is 47.57%.

Institutional Trading of Royalty Pharma

A number of hedge funds have recently bought and sold shares of the company. Augustine Asset Management Inc. lifted its position in Royalty Pharma by 4.4% in the second quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company’s stock valued at $242,000 after purchasing an additional 283 shares during the last quarter. Applied Finance Capital Management LLC increased its stake in shares of Royalty Pharma by 3.0% during the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company’s stock valued at $351,000 after buying an additional 329 shares during the period. Fifth Third Bancorp increased its stake in shares of Royalty Pharma by 19.2% during the second quarter. Fifth Third Bancorp now owns 2,137 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 344 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Royalty Pharma by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company’s stock valued at $1,238,000 after buying an additional 349 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Royalty Pharma by 21.8% during the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 371 shares during the period. Institutional investors own 54.35% of the company’s stock.

About Royalty Pharma

(Get Free Report)

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.

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