Royalty Pharma plc (NASDAQ:RPRX) Given Consensus Recommendation of “Buy” by Brokerages

Royalty Pharma plc (NASDAQ:RPRX) has been given a consensus rating of “Buy” by the four ratings firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $46.75.

Several equities research analysts have issued reports on RPRX shares. Bank of America dropped their price objective on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 12th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. dropped their price objective on Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group lowered their price target on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 20th.

Institutional Investors Weigh In On Royalty Pharma

Institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Royalty Pharma by 34.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,524 shares of the biopharmaceutical company’s stock valued at $332,000 after purchasing an additional 2,176 shares during the period. Advisor Group Holdings Inc. boosted its position in Royalty Pharma by 9.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,265 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 366 shares during the period. US Bancorp DE raised its stake in shares of Royalty Pharma by 48.1% in the 1st quarter. US Bancorp DE now owns 11,105 shares of the biopharmaceutical company’s stock worth $433,000 after buying an additional 3,608 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Royalty Pharma by 54.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 1,208 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Royalty Pharma by 644.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,759 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 4,985 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Up 1.0 %

Shares of NASDAQ:RPRX opened at $27.89 on Friday. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.78 and a beta of 0.45. Royalty Pharma has a 12-month low of $25.92 and a 12-month high of $36.48. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $29.79 and its two-hundred day moving average price is $28.50.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.12. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. The company had revenue of $736.00 million for the quarter, compared to the consensus estimate of $702.90 million. On average, research analysts forecast that Royalty Pharma will post 3.95 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be issued a $0.21 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.01%. Royalty Pharma’s dividend payout ratio (DPR) is 44.44%.

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.