Shares of Royalty Pharma PLC (NASDAQ:RPRX) have received a consensus rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $52.33.
A number of equities analysts recently issued reports on RPRX shares. BofA Securities started coverage on shares of Royalty Pharma in a report on Monday, July 13th. They issued a “buy” rating and a $55.00 price objective on the stock. Goldman Sachs Group started coverage on shares of Royalty Pharma in a report on Sunday, July 12th. They issued a “neutral” rating and a $47.00 price objective on the stock. Citigroup started coverage on shares of Royalty Pharma in a report on Monday, July 13th. They issued a “neutral” rating and a $50.00 price objective on the stock. Evercore ISI initiated coverage on shares of Royalty Pharma in a report on Tuesday, July 14th. They issued a “hold” rating on the stock. Finally, Cowen initiated coverage on shares of Royalty Pharma in a report on Monday, July 13th. They set an “outperform” rating and a $55.00 price target on the stock.
In related news, CEO Pablo G. Legorreta bought 20,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were purchased at an average price of $28.00 per share, with a total value of $560,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Adage Capital Partners Gp, L.L bought 3,000,000 shares of the stock in a transaction dated Thursday, June 18th. The stock was bought at an average cost of $28.00 per share, for a total transaction of $84,000,000.00. The disclosure for this purchase can be found here. Insiders bought 4,524,500 shares of company stock worth $126,686,000 in the last three months. Insiders own 2.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in RPRX. Principal Financial Group Inc. bought a new stake in Royalty Pharma in the second quarter worth $534,000. Neuberger Berman Group LLC bought a new stake in Royalty Pharma in the second quarter worth $486,000. Charles Schwab Investment Management Inc. bought a new stake in Royalty Pharma in the second quarter worth $7,849,000. Blackstone Group Inc bought a new stake in Royalty Pharma in the second quarter worth $2,670,000. Finally, CNH Partners LLC bought a new stake in Royalty Pharma in the second quarter worth $243,000. 36.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RPRX stock traded down $0.96 during trading hours on Tuesday, reaching $39.78. The company had a trading volume of 1,088,929 shares, compared to its average volume of 826,226. The business has a fifty day moving average of $43.26. Royalty Pharma has a one year low of $38.91 and a one year high of $56.50. The company has a quick ratio of 7.52, a current ratio of 7.52 and a debt-to-equity ratio of 0.61.
Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $509.88 million. Analysts anticipate that Royalty Pharma will post 2.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, September 14th.
Royalty Pharma Company Profile
Royalty Pharma plc operates in the biopharmaceutical industry. It operates as a buyer of biopharmaceutical royalties and a funder of innovation in the biopharmaceutical industry. The company engages in the identification, evaluation, and acquisition of attractive royalties and royalty-related assets on various biopharmaceutical therapies.
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