Royalty Pharma (NASDAQ:RPRX) Shares Gap Up – What’s Next?

Shares of Royalty Pharma plc (NASDAQ:RPRX) gapped up before the market opened on Friday . The stock had previously closed at $26.20, but opened at $27.55. Royalty Pharma shares last traded at $27.91, with a volume of 539,187 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on RPRX. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. Citigroup lowered their target price 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 upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $41.67.

Royalty Pharma Trading Up 7.7 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The business’s 50-day simple moving average is $25.90 and its 200-day simple moving average is $27.02. The company has a market cap of $16.62 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 4.36 and a beta of 0.47.

Hedge Funds Weigh In On Royalty Pharma

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in Royalty Pharma by 31.4% during the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 590 shares during the last quarter. Franklin Resources Inc. boosted its stake in Royalty Pharma by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock worth $40,705,000 after buying an additional 70,130 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Royalty Pharma in the 3rd quarter valued at about $61,000. Sanctuary Advisors LLC increased its stake in shares of Royalty Pharma by 78.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 41,466 shares of the biopharmaceutical company’s stock valued at $1,096,000 after acquiring an additional 18,288 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its position in shares of Royalty Pharma by 1.0% in the third quarter. Hohimer Wealth Management LLC now owns 145,357 shares of the biopharmaceutical company’s stock worth $4,112,000 after acquiring an additional 1,445 shares during the last quarter. Hedge funds and other 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.