Royalty Pharma plc (NASDAQ:RPRX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Royalty Pharma plc (NASDAQ:RPRX) have been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $41.67.

RPRX has been the subject of several research analyst reports. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. Finally, Citigroup cut their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th.

Royalty Pharma Trading Up 0.6 %

NASDAQ RPRX opened at $31.45 on Thursday. The firm has a market capitalization of $18.53 billion, a P/E ratio of 16.30 and a beta of 0.49. The business has a fifty day simple moving average of $27.53 and a 200 day simple moving average of $27.57. Royalty Pharma has a 12 month low of $24.05 and a 12 month high of $32.21. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be paid a $0.22 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.80%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s dividend payout ratio (DPR) is currently 43.52%.

Institutional Trading of Royalty Pharma

Large investors have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in shares of Royalty Pharma by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock valued at $40,705,000 after buying an additional 70,130 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Royalty Pharma by 171.1% during the 3rd quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock valued at $2,777,000 after buying an additional 64,057 shares in the last quarter. Summit Global Investments purchased a new position in shares of Royalty Pharma during the 3rd quarter valued at about $735,000. Pallas Capital Advisors LLC purchased a new position in shares of Royalty Pharma during the 4th quarter valued at about $2,355,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Royalty Pharma by 44.7% during the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock valued at $85,809,000 after buying an additional 936,900 shares in the last quarter. Institutional investors 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.