Royalty Pharma (NASDAQ:RPRX) Hits New 12-Month High – Should You Buy?

Royalty Pharma plc (NASDAQ:RPRX) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $32.92 and last traded at $32.69, with a volume of 112537 shares trading hands. The stock had previously closed at $32.85.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of recent analyst reports. TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Citigroup decreased their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $41.67.

Royalty Pharma Stock Performance

The business’s fifty day moving average is $28.70 and its 200-day moving average is $27.82. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market cap of $19.30 billion, a PE ratio of 22.60, a P/E/G ratio of 2.24 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be given a dividend of $0.22 per share. The ex-dividend date is Friday, February 21st. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.69%. Royalty Pharma’s payout ratio is 57.93%.

Institutional Trading of Royalty Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swedbank AB grew its stake in shares of Royalty Pharma by 2.0% during the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock valued at $311,964,000 after acquiring an additional 213,900 shares during the period. Blue Trust Inc. lifted its holdings in Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 943 shares in the last quarter. Raymond James & Associates boosted its position in shares of Royalty Pharma by 9.7% in the third quarter. Raymond James & Associates now owns 805,080 shares of the biopharmaceutical company’s stock worth $22,776,000 after purchasing an additional 71,402 shares during the period. Lecap Asset Management Ltd. purchased a new stake in shares of Royalty Pharma in the third quarter worth $1,023,000. Finally, Keene & Associates Inc. bought a new stake in shares of Royalty Pharma during the 3rd quarter valued at $539,000. 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.