Royalty Pharma (NASDAQ:RPRX) Sets New 52-Week High - Still a Buy?

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $32.92 and last traded at $32.69, with a volume of 112537 shares trading hands. The stock had previously closed at $32.85.

Wall Street Analyst Weigh In

RPRX has been the subject of several research reports. 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. StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Finally, TD Cowen raised Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Royalty Pharma currently has a consensus rating of "Buy" and a consensus price target of $41.60.

Royalty Pharma Price Performance

The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market cap of $19.69 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 2.26 and a beta of 0.49. The stock has a 50-day moving average of $29.01 and a two-hundred day moving average of $27.89.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be paid a $0.22 dividend. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, February 21st. Royalty Pharma's dividend payout ratio is currently 57.93%.

Institutional Investors Weigh In On Royalty Pharma

Several hedge funds have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. lifted its stake in Royalty Pharma by 42.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock worth $432,862,000 after acquiring an additional 5,069,127 shares in the last quarter. Swedbank AB raised its stake in shares of Royalty Pharma by 10.3% during the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock worth $310,308,000 after purchasing an additional 1,136,800 shares in the last quarter. State Street Corp raised its stake in shares of Royalty Pharma by 0.3% during the 3rd quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company's stock worth $269,215,000 after purchasing an additional 29,451 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Royalty Pharma by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company's stock worth $186,846,000 after purchasing an additional 46,765 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Royalty Pharma during the 4th quarter worth about $124,498,000. 54.35% of the stock is 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.