Royalty Pharma (NASDAQ:RPRX) Upgraded at StockNews.com

Royalty Pharma (NASDAQ:RPRX - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Tuesday.

Several other research firms have also weighed in on RPRX. Morgan Stanley lifted their price objective on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, July 11th. Citigroup decreased their target price 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. Finally, The Goldman Sachs Group lifted their price objective on Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $41.67.

Royalty Pharma Price Performance

RPRX stock traded up $0.34 during midday trading on Tuesday, reaching $27.54. 1,820,378 shares of the company's stock traded hands, compared to its average volume of 2,563,278. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 3.99 and a beta of 0.47. The company has a 50-day simple moving average of $27.95 and a two-hundred day simple moving average of $27.56. Royalty Pharma has a 1-year low of $25.20 and a 1-year high of $31.66.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. The business had revenue of $537.00 million for the quarter, compared to analyst estimates of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same quarter in the prior year, the firm posted $0.85 earnings per share. On average, analysts anticipate that Royalty Pharma will post 4.05 earnings per share for the current year.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RPRX. Xponance Inc. lifted its position in Royalty Pharma by 1.9% during the second quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company's stock worth $836,000 after acquiring an additional 606 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock valued at $76,000 after purchasing an additional 655 shares during the period. Values First Advisors Inc. grew its position in shares of Royalty Pharma by 7.6% during the 3rd quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company's stock worth $295,000 after purchasing an additional 738 shares in the last quarter. Phillips Wealth Planners LLC increased its holdings in shares of Royalty Pharma by 10.2% during the third quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company's stock worth $246,000 after purchasing an additional 808 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Royalty Pharma by 10.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,097 shares of the biopharmaceutical company's stock worth $276,000 after buying an additional 887 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

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.