StockNews.com Lowers Royalty Pharma (NASDAQ:RPRX) to Hold

Royalty Pharma (NASDAQ:RPRX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other brokerages have also recently commented on RPRX. UBS Group cut shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Monday, June 3rd. Morgan Stanley boosted their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group boosted 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Royalty Pharma Price Performance

Royalty Pharma stock traded down $0.59 during mid-day trading on Monday, hitting $28.11. The stock had a trading volume of 3,618,074 shares, compared to its average volume of 2,714,036. The firm has a market capitalization of $16.68 billion, a P/E ratio of 20.98, a P/E/G ratio of 4.23 and a beta of 0.46. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $27.65 and its 200 day moving average is $28.13. Royalty Pharma has a one year low of $25.20 and a one year high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, sell-side analysts forecast that Royalty Pharma will post 4.04 earnings per share for the current fiscal year.

Institutional Trading of Royalty Pharma

Several hedge funds have recently made changes to their positions in RPRX. Versant Capital Management Inc raised its position in shares of Royalty Pharma by 5,215.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 1,043 shares in the last quarter. Gladius Capital Management LP purchased a new stake in Royalty Pharma in the 2nd quarter worth about $32,000. Fidelis Capital Partners LLC purchased a new stake in Royalty Pharma in the 1st quarter worth about $46,000. GAMMA Investing LLC raised its position in Royalty Pharma by 172.5% in the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 1,037 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Royalty Pharma by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 802 shares during the period. 54.35% of the stock is currently 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.