Royalty Pharma plc (NASDAQ:RPRX) Receives Average Recommendation of “Buy” from Brokerages

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

A number of research firms have recently issued reports on RPRX. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Citigroup lowered their price objective on shares of 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, TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th.

Royalty Pharma Stock Up 12.6 %

Shares of NASDAQ RPRX opened at $29.49 on Friday. The stock has a fifty day moving average price of $25.94 and a 200 day moving average price of $27.04. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma has a 12-month low of $24.05 and a 12-month high of $31.66. The company has a market cap of $17.38 billion, a P/E ratio of 15.28, a P/E/G ratio of 4.36 and a beta of 0.47.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is 43.52%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Swedbank AB raised its stake in shares of Royalty Pharma by 2.0% in the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock valued at $311,964,000 after purchasing an additional 213,900 shares in the last quarter. State Street Corp raised its stake in Royalty Pharma by 0.3% during the third quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company’s stock valued at $269,215,000 after buying an additional 29,451 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Royalty Pharma by 6.1% during the 3rd 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 during the last quarter. Two Sigma Advisers LP grew its position in shares of Royalty Pharma by 44.7% in the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after acquiring an additional 936,900 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after acquiring an additional 1,103,341 shares during the last quarter. 54.35% of the stock is currently owned by 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.