Royalty Pharma (NASDAQ:RPRX) Sets New 12-Month High – Still a Buy?

Royalty Pharma plc (NASDAQ:RPRX) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $32.92 and last traded at $32.69, with a volume of 112537 shares trading hands. The stock had previously closed at $32.85.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RPRX shares. TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. Citigroup cut their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $41.60.

Royalty Pharma Stock Up 0.9 %

The firm’s 50-day simple moving average is $29.01 and its 200 day simple moving average is $27.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $19.69 billion, a P/E ratio of 23.05, a PEG ratio of 2.26 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, research analysts expect that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, February 21st. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.63%. Royalty Pharma’s payout ratio is currently 57.93%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RPRX. Brooklyn Investment Group raised its holdings in Royalty Pharma by 1,006.9% in the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 876 shares during the period. Allworth Financial LP raised its holdings in Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 877 shares during the period. Riverview Trust Co raised its holdings in Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 1,186 shares during the period. Blue Trust Inc. raised its holdings in Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 943 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Royalty Pharma by 187.1% in the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 997 shares during the period. 54.35% of the stock is 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.