Brokerages Set Royalty Pharma plc (NASDAQ:RPRX) PT at $41.67

Royalty Pharma plc (NASDAQ:RPRX) has been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $41.67.

Several equities analysts have commented on RPRX shares. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. 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 note on Friday, October 25th. Finally, StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th.

Royalty Pharma Stock Down 0.6 %

NASDAQ RPRX opened at $30.75 on Friday. Royalty Pharma has a twelve month low of $24.05 and a twelve month high of $31.66. The stock has a market cap of $18.12 billion, a PE ratio of 15.93 and a beta of 0.47. The firm has a 50-day simple moving average of $26.31 and a 200 day simple moving average of $27.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.22 per share. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, February 21st. Royalty Pharma’s dividend payout ratio is currently 43.52%.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Royalty Pharma by 58.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock worth $84,915,000 after purchasing an additional 1,103,341 shares in the last quarter. Two Sigma Advisers LP grew its stake in Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after buying an additional 936,900 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Royalty Pharma during the third quarter worth about $14,898,000. Geode Capital Management LLC increased its holdings in shares of Royalty Pharma by 6.1% during the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after buying an additional 417,490 shares in the last quarter. Finally, Dark Forest Capital Management LP raised its stake in shares of Royalty Pharma by 2,974.4% in the second quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock valued at $8,931,000 after acquiring an additional 327,659 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

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.