Royalty Pharma (NASDAQ:RPRX) Price Target Lowered to $40.00 at Citigroup

Royalty Pharma (NASDAQ:RPRX - Get Free Report) had its price target decreased by investment analysts at Citigroup from $60.00 to $40.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Citigroup's price target points to a potential upside of 48.42% from the company's previous close.

Several other research firms also recently issued reports on RPRX. Morgan Stanley boosted their price objective on Royalty Pharma from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, July 11th. StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX traded down $0.33 during mid-day trading on Friday, reaching $26.95. 1,628,288 shares of the company traded hands, compared to its average volume of 2,584,891. The firm has a market cap of $16.10 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 4.03 and a beta of 0.46. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. Royalty Pharma has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The stock has a fifty day simple moving average of $28.03 and a 200-day simple moving average of $27.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The firm had revenue of $537.00 million for the quarter, compared to analyst estimates of $600.83 million. During the same period in the previous year, the company earned $0.85 earnings per share. Equities research analysts anticipate that Royalty Pharma will post 4.05 EPS for the current fiscal year.

Institutional Trading of Royalty Pharma

Institutional investors have recently bought and sold shares of the company. Swedbank AB grew its position in Royalty Pharma by 2.0% in the third quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company's stock worth $311,964,000 after acquiring an additional 213,900 shares in the last quarter. New South Capital Management Inc. boosted its holdings in Royalty Pharma by 60.7% in the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company's stock worth $61,943,000 after purchasing an additional 887,522 shares in the last quarter. Homestead Advisers Corp increased its position in Royalty Pharma by 40.7% during the first quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company's stock worth $57,502,000 after buying an additional 547,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Royalty Pharma by 10.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,856,998 shares of the biopharmaceutical company's stock valued at $56,396,000 after buying an additional 175,261 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Royalty Pharma by 6.0% during the second 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 buying an additional 86,248 shares in the last quarter. Institutional investors and hedge funds 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.