Royalty Pharma (NASDAQ:RPRX) Sets New 12-Month High After Better-Than-Expected Earnings

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report)'s share price reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $32.72 and last traded at $32.15, with a volume of 1138540 shares changing hands. The stock had previously closed at $31.72.

The biopharmaceutical company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 50.53% and a return on equity of 24.65%.

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 issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.88 annualized dividend 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 Ratings Changes

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

Institutional Investors Weigh In On Royalty Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in RPRX. Brooklyn Investment Group raised its holdings in shares of Royalty Pharma by 1,006.9% in the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 876 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 877 shares during the last quarter. Riverview Trust Co raised its holdings in shares of Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 1,186 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 943 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Royalty Pharma by 187.1% in the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 997 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Stock Down 0.1 %

The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The stock's 50-day simple moving average is $28.30 and its 200-day simple moving average is $27.74. The firm has a market capitalization of $19.10 billion, a P/E ratio of 16.75 and a beta of 0.49.

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.