Royalty Pharma plc (NASDAQ:RPRX) Given Consensus Rating of “Moderate Buy” by Analysts

Royalty Pharma plc (NASDAQ:RPRX) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $41.67.

Several analysts have issued reports on RPRX shares. Citigroup dropped their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th.

Institutional Trading of Royalty Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of RPRX. Envestnet Portfolio Solutions Inc. purchased a new position in Royalty Pharma during the second quarter worth about $254,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Royalty Pharma by 6.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 993,578 shares of the biopharmaceutical company’s stock worth $26,201,000 after purchasing an additional 62,218 shares during the period. Bank of New York Mellon Corp increased its holdings in Royalty Pharma by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock valued at $40,428,000 after purchasing an additional 86,248 shares during the last quarter. State of Michigan Retirement System raised its position in Royalty Pharma by 40.3% in the second quarter. State of Michigan Retirement System now owns 16,700 shares of the biopharmaceutical company’s stock valued at $440,000 after purchasing an additional 4,800 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Royalty Pharma by 11,203.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company’s stock valued at $8,197,000 after purchasing an additional 308,102 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

RPRX stock opened at $25.23 on Wednesday. Royalty Pharma has a 1 year low of $24.05 and a 1 year high of $31.66. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $14.87 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 4.36 and a beta of 0.46. The business has a 50 day simple moving average of $26.37 and a 200-day simple moving average of $27.14.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

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.