Royalty Pharma (NASDAQ:RPRX) Price Target Increased to $51.00 by Analysts at Morgan Stanley

Royalty Pharma (NASDAQ:RPRX) had its price objective boosted by Morgan Stanley from $48.00 to $51.00 in a research note issued to investors on Thursday, Benzinga reports. Morgan Stanley currently has an overweight rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently issued reports on the company. Bank of America cut their price objective on Royalty Pharma from $40.00 to $38.00 and set a buy rating for the company in a research report on Friday, April 12th. UBS Group cut Royalty Pharma from a buy rating to a neutral rating and set a $28.00 target price for the company. in a research note on Monday, June 3rd. Finally, StockNews.com cut Royalty Pharma from a buy rating to a hold rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Royalty Pharma has a consensus rating of Moderate Buy and an average price target of $41.80.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $26.77 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 12.52 and a quick ratio of 12.52. The company has a market capitalization of $15.99 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 3.49 and a beta of 0.46. Royalty Pharma has a one year low of $25.20 and a one year high of $31.66. The business has a 50 day simple moving average of $26.95 and a 200 day simple moving average of $28.38.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $568.00 million during the quarter, compared to the consensus estimate of $671.45 million. Royalty Pharma had a return on equity of 22.94% and a net margin of 35.70%. During the same quarter last year, the company earned $1.60 EPS. On average, sell-side analysts forecast that Royalty Pharma will post 4.04 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 17th were issued a $0.21 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.14%. Royalty Pharma’s dividend payout ratio (DPR) is 62.69%.

Institutional Trading of Royalty Pharma

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,043 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Royalty Pharma during the first quarter worth about $46,000. Allworth Financial LP raised its holdings in Royalty Pharma by 76.7% during the fourth quarter. Allworth Financial LP now owns 1,684 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 731 shares in the last quarter. GAMMA Investing LLC raised its holdings in Royalty Pharma by 172.5% during the first quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 1,037 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Royalty Pharma by 79.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 802 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

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.