Royalty Pharma (NASDAQ:RPRX) Rating Increased to Strong-Buy at TD Cowen

Royalty Pharma (NASDAQ:RPRX - Get Free Report) was upgraded by TD Cowen to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

RPRX has been the topic of several other reports. Citigroup decreased their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $41.67.

Royalty Pharma Stock Performance

RPRX traded down $0.02 during trading on Tuesday, reaching $25.23. The company's stock had a trading volume of 1,350,225 shares, compared to its average volume of 2,696,791. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 4.36 and a beta of 0.46. The company's fifty day moving average price is $26.32 and its 200-day moving average price is $27.13. Royalty Pharma has a 52-week low of $24.05 and a 52-week high of $31.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Institutional Investors Weigh In On Royalty Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of RPRX. Blue Trust Inc. grew its stake in 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 period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Royalty Pharma in the third quarter valued at $61,000. EverSource Wealth Advisors LLC increased its stake in Royalty Pharma by 32.1% in the second 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 last quarter. Transamerica Financial Advisors Inc. increased its stake in Royalty Pharma by 99.9% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company's stock valued at $98,000 after purchasing an additional 1,729 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its position in Royalty Pharma by 274.7% during the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company's stock worth $168,000 after buying an additional 4,683 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

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.