Royalty Pharma plc (NASDAQ:RPRX) Receives Consensus Recommendation of “Buy” from Analysts

Royalty Pharma plc (NASDAQ:RPRX) has been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $41.67.

Several research firms have recently issued reports on RPRX. Citigroup lowered their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $31.45 on Thursday. The stock has a market cap of $18.53 billion, a PE ratio of 16.30 and a beta of 0.49. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $27.53 and its two-hundred day moving average price is $27.57. Royalty Pharma has a 12-month low of $24.05 and a 12-month high of $32.21.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.80%. Royalty Pharma’s dividend payout ratio is presently 43.52%.

Institutional Trading of Royalty Pharma

Several institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB boosted its holdings in shares of Royalty Pharma by 10.3% during the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock worth $310,308,000 after buying an additional 1,136,800 shares in the last quarter. State Street Corp raised its position in Royalty Pharma by 0.3% in the 3rd quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company’s stock valued at $269,215,000 after buying an additional 29,451 shares during the last quarter. Geode Capital Management LLC raised its position in Royalty Pharma by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock valued at $205,562,000 after buying an additional 417,490 shares during the last quarter. Two Sigma Advisers LP raised its position in Royalty Pharma by 44.7% in the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock valued at $85,809,000 after buying an additional 936,900 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after buying an additional 1,103,341 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Company Profile

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.