Royalty Pharma (NASDAQ:RPRX) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Royalty Pharma (NASDAQ:RPRX - Get Free Report) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.16, Zacks reports. Royalty Pharma had a return on equity of 24.65% and a net margin of 50.53%.

Royalty Pharma Price Performance

Shares of RPRX stock traded down $0.11 during mid-day trading on Friday, hitting $32.36. 2,793,475 shares of the stock were exchanged, compared to its average volume of 4,108,457. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma has a 52-week low of $24.05 and a 52-week high of $32.89. The firm has a fifty day moving average of $28.30 and a 200 day moving average of $27.74. The company has a market cap of $19.06 billion, a PE ratio of 16.76 and a beta of 0.49.

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 $0.22 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.72%. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's dividend payout ratio is 43.52%.

Analyst Ratings Changes

RPRX has been the subject of a number of recent research reports. Citigroup reduced their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, October 25th. StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Finally, TD Cowen raised shares of Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. One investment 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. According to data from MarketBeat.com, Royalty Pharma presently has a consensus rating of "Buy" and an average target price of $41.67.

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.