Royalty Pharma plc (NASDAQ:RPRX) Receives $41.67 Average Price Target from Analysts

Shares of Royalty Pharma plc (NASDAQ:RPRX) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $41.67.

A number of brokerages have recently weighed in on RPRX. The Goldman Sachs Group upped their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Citigroup cut their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $26.60 on Friday. The stock has a market cap of $15.67 billion, a P/E ratio of 13.78, a P/E/G ratio of 4.65 and a beta of 0.47. The firm’s 50-day simple moving average is $27.19 and its 200 day simple moving average is $27.35. Royalty Pharma has a fifty-two week low of $25.10 and a fifty-two week high of $31.66. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 3.16%. Royalty Pharma’s dividend payout ratio (DPR) is 43.52%.

Institutional Investors Weigh In On Royalty Pharma

Several hedge funds have recently modified their holdings of RPRX. Versant Capital Management Inc increased its position 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 worth $28,000 after acquiring an additional 1,043 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Royalty Pharma in the second quarter valued at $32,000. Blue Trust Inc. boosted its position in shares of Royalty Pharma by 362.7% in the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Royalty Pharma during the third quarter valued at $61,000. Finally, EverSource Wealth Advisors LLC raised its position in Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 655 shares during the period. 54.35% of the stock is owned by hedge funds and other 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.