Royalty Pharma (NASDAQ:RPRX) Posts Earnings Results, Beats Expectations By $0.16 EPS

Royalty Pharma (NASDAQ:RPRX) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.16, Zacks reports. Royalty Pharma had a return on equity of 24.65% and a net margin of 50.53%.

Royalty Pharma Stock Up 0.3 %

RPRX stock opened at $32.34 on Thursday. Royalty Pharma has a twelve month low of $24.05 and a twelve month high of $32.72. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The company has a market cap of $19.05 billion, a PE ratio of 16.76 and a beta of 0.49. The business’s 50-day simple moving average is $28.18 and its 200 day simple moving average is $27.71.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s dividend payout ratio is currently 43.52%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $41.67.

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.