Royalty Pharma plc (NASDAQ:RPRX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Royalty Pharma plc (NASDAQ:RPRXGet Rating) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $54.14.

Several brokerages have recently issued reports on RPRX. StockNews.com assumed coverage on shares of Royalty Pharma in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upped their price target on shares of Royalty Pharma from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 18th. Citigroup upped their target price on shares of Royalty Pharma from $50.00 to $60.00 in a research report on Thursday, July 28th. Finally, Morgan Stanley upped their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 9th.

Royalty Pharma Trading Down 1.0 %

Shares of RPRX opened at $42.93 on Friday. Royalty Pharma has a 1-year low of $36.15 and a 1-year high of $44.75. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $41.74 and its 200-day moving average price is $41.85. The firm has a market capitalization of $26.07 billion, a price-to-earnings ratio of 51.11, a PEG ratio of 1.06 and a beta of 0.34.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 18th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.77%. Royalty Pharma’s dividend payout ratio is 90.48%.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, major shareholder 1978 Sicaf Sif S.A. – Gg St Gg sold 250,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $42.53, for a total transaction of $10,632,500.00. Following the completion of the transaction, the insider now owns 22,674,176 shares in the company, valued at $964,332,705.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Royalty Pharma news, Director Mario Germano Giuliani sold 32,593 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $41.05, for a total transaction of $1,337,942.65. Following the completion of the transaction, the director now owns 8,077,140 shares in the company, valued at $331,566,597. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 1978 Sicaf Sif S.A. – Gg St Gg sold 250,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $42.53, for a total transaction of $10,632,500.00. Following the transaction, the insider now owns 22,674,176 shares of the company’s stock, valued at approximately $964,332,705.28. The disclosure for this sale can be found here. Insiders sold 1,887,623 shares of company stock worth $79,272,782 over the last 90 days. 24.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Royalty Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in RPRX. Baillie Gifford & Co. raised its stake in shares of Royalty Pharma by 1,496.7% in the second quarter. Baillie Gifford & Co. now owns 17,994,918 shares of the biopharmaceutical company’s stock valued at $756,506,000 after acquiring an additional 16,867,887 shares during the period. FMR LLC raised its stake in shares of Royalty Pharma by 27.5% in the second quarter. FMR LLC now owns 35,953,354 shares of the biopharmaceutical company’s stock valued at $1,511,480,000 after acquiring an additional 7,748,193 shares during the period. Vanguard Group Inc. raised its stake in shares of Royalty Pharma by 7.5% in the first quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock valued at $1,241,289,000 after acquiring an additional 2,224,056 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Royalty Pharma by 1,012.7% in the third quarter. The Manufacturers Life Insurance Company now owns 2,391,857 shares of the biopharmaceutical company’s stock valued at $96,118,000 after acquiring an additional 2,176,904 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Royalty Pharma by 37.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,647,985 shares of the biopharmaceutical company’s stock worth $321,522,000 after buying an additional 2,087,897 shares during the period. Hedge funds and other institutional investors own 54.94% of the company’s stock.

About Royalty Pharma

(Get Rating)

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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Analyst Recommendations for Royalty Pharma (NASDAQ:RPRX)

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