The Goldman Sachs Group Raises Royalty Pharma (NASDAQ:RPRX) Price Target to $51.00

Royalty Pharma (NASDAQ:RPRX) had its price target boosted by The Goldman Sachs Group from $50.00 to $51.00 in a research note released on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also weighed in on RPRX. Morgan Stanley lifted their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an overweight rating in a research report on Thursday, July 11th. UBS Group lowered Royalty Pharma from a buy rating to a neutral rating and set a $28.00 price objective on the stock. in a research note on Monday, June 3rd. Finally, StockNews.com upgraded Royalty Pharma from a hold rating to a buy rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $42.00.

Royalty Pharma Stock Down 0.1 %

RPRX stock opened at $27.17 on Wednesday. Royalty Pharma has a twelve month low of $25.20 and a twelve month high of $31.66. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78. The company has a market cap of $16.23 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.96 and a beta of 0.46. The business’s 50-day simple moving average is $27.12 and its 200 day simple moving average is $28.25.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same period in the previous year, the business posted $0.85 earnings per share. On average, research analysts anticipate that Royalty Pharma will post 4 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 16th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, August 16th. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. Royalty Pharma’s dividend payout ratio is 62.69%.

Hedge Funds Weigh In On Royalty Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of RPRX. Inspire Investing LLC lifted its position in Royalty Pharma by 175.1% during the 1st quarter. Inspire Investing LLC now owns 43,524 shares of the biopharmaceutical company’s stock worth $1,322,000 after buying an additional 27,701 shares in the last quarter. Torray Investment Partners LLC grew its stake in shares of Royalty Pharma by 22.6% during the fourth quarter. Torray Investment Partners LLC now owns 505,740 shares of the biopharmaceutical company’s stock valued at $14,206,000 after purchasing an additional 93,107 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Royalty Pharma in the fourth quarter valued at approximately $2,100,000. New Century Financial Group LLC bought a new position in Royalty Pharma in the 1st quarter worth approximately $1,091,000. Finally, Patient Capital Management LLC bought a new position in Royalty Pharma in the 4th quarter worth approximately $35,247,000. 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.