Royalty Pharma (NASDAQ:RPRX) Sees Large Volume Increase – Still a Buy?

Royalty Pharma plc (NASDAQ:RPRX) saw unusually-high trading volume on Friday . Approximately 2,670,297 shares changed hands during mid-day trading, an increase of 4% from the previous session’s volume of 2,573,080 shares.The stock last traded at $26.77 and had previously closed at $26.52.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RPRX. The Goldman Sachs Group increased their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley raised their target price on Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Citigroup dropped their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Royalty Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Stock Down 0.8 %

The firm has a market cap of $15.62 billion, a PE ratio of 13.75, a PEG ratio of 3.92 and a beta of 0.47. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average price is $27.83 and its two-hundred day moving average price is $27.54.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $600.83 million. Royalty Pharma had a net margin of 50.53% and a return on equity of 24.87%. During the same quarter last year, the business earned $0.85 EPS. On average, equities research analysts expect that Royalty Pharma plc will post 4.05 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.19%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s dividend payout ratio is currently 43.52%.

Institutional Trading of Royalty Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Royalty Pharma by 4,335.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,750 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 2,688 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Royalty Pharma by 8.7% in the first quarter. Nordea Investment Management AB now owns 24,641 shares of the biopharmaceutical company’s stock worth $755,000 after buying an additional 1,970 shares in the last quarter. SG Americas Securities LLC purchased a new position in Royalty Pharma during the 1st quarter valued at approximately $2,961,000. Illinois Municipal Retirement Fund increased its stake in Royalty Pharma by 73.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 63,739 shares of the biopharmaceutical company’s stock worth $1,936,000 after acquiring an additional 26,934 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of Royalty Pharma by 43.0% during the 1st quarter. Forsta AP Fonden now owns 98,800 shares of the biopharmaceutical company’s stock worth $3,001,000 after acquiring an additional 29,700 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

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.