Royalty Pharma plc (NASDAQ:RPRX) Given Average Rating of “Buy” by Brokerages

Shares of Royalty Pharma plc (NASDAQ:RPRX) have received an average recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $41.60.

Separately, TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $33.01 on Monday. Royalty Pharma has a twelve month low of $24.05 and a twelve month high of $34.20. The company has a market cap of $19.03 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. The business’s 50 day moving average price is $30.87 and its two-hundred day moving average price is $28.41. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, analysts predict that Royalty Pharma will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be given a dividend of $0.22 per share. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.67%. Royalty Pharma’s dividend payout ratio (DPR) is presently 60.69%.

Institutional Investors Weigh In On Royalty Pharma

A number of institutional investors have recently modified their holdings of RPRX. Franklin Resources Inc. raised its stake in Royalty Pharma by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock worth $40,705,000 after purchasing an additional 70,130 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Royalty Pharma by 171.1% in the third 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 bought a new stake in shares of Royalty Pharma in the third quarter valued at approximately $735,000. Pallas Capital Advisors LLC acquired a new stake in Royalty Pharma during the fourth quarter worth approximately $2,355,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Royalty Pharma by 303.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company’s stock worth $13,926,000 after acquiring an additional 406,123 shares during the period. 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.