Royalty Pharma (NASDAQ:RPRX) Reaches New 52-Week High on Strong Earnings

Royalty Pharma plc (NASDAQ:RPRX) shares reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $32.72 and last traded at $32.15, with a volume of 1138540 shares traded. The stock had previously closed at $31.72.

The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 50.53% and a return on equity of 24.65%.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.73%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, February 21st. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

Wall Street Analysts Forecast Growth

RPRX has been the topic of several research reports. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Citigroup decreased 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 report on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and an average target price of $41.67.

Institutional Trading of Royalty Pharma

A number of hedge funds have recently made changes to their positions in RPRX. Keene & Associates Inc. boosted its position in Royalty Pharma by 1.9% during the 4th quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company’s stock worth $495,000 after buying an additional 370 shares during the period. Blue Trust Inc. lifted its holdings in shares of Royalty Pharma by 31.3% during the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 376 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Royalty Pharma by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company’s stock worth $1,068,000 after purchasing an additional 388 shares during the last quarter. Aurora Investment Counsel increased its holdings in Royalty Pharma by 1.0% in the third quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company’s stock valued at $1,427,000 after purchasing an additional 512 shares during the period. Finally, Arizona State Retirement System increased its holdings in Royalty Pharma by 0.5% in the fourth quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company’s stock valued at $2,822,000 after purchasing an additional 537 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

The company has a 50-day moving average of $27.93 and a 200-day moving average of $27.65. The firm has a market capitalization of $19.00 billion, a P/E ratio of 16.71 and a beta of 0.49. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64.

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.