Royalty Pharma (NASDAQ:RPRX) Upgraded at TD Cowen

TD Cowen upgraded shares of Royalty Pharma (NASDAQ:RPRX) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

RPRX has been the subject of several other research reports. Citigroup cut their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Royalty Pharma has an average rating of “Buy” and a consensus price target of $41.67.

Royalty Pharma Stock Up 0.7 %

Shares of NASDAQ RPRX opened at $25.40 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The company has a market cap of $14.97 billion, a P/E ratio of 13.16, a P/E/G ratio of 4.36 and a beta of 0.46. Royalty Pharma has a 52 week low of $24.05 and a 52 week high of $31.66. The business has a 50-day simple moving average of $26.21 and a two-hundred day simple moving average of $27.10.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, November 15th. Royalty Pharma’s payout ratio is currently 43.52%.

Institutional Trading of Royalty Pharma

Several institutional investors and hedge funds have recently bought and sold shares of RPRX. Franklin Resources Inc. raised its holdings in Royalty Pharma by 5.0% in the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock worth $40,705,000 after purchasing an additional 70,130 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Royalty Pharma in the 3rd quarter worth about $61,000. Sanctuary Advisors LLC increased its stake in shares of Royalty Pharma by 78.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 41,466 shares of the biopharmaceutical company’s stock worth $1,096,000 after acquiring an additional 18,288 shares in the last quarter. Hohimer Wealth Management LLC lifted its position in Royalty Pharma by 1.0% during the 3rd quarter. Hohimer Wealth Management LLC now owns 145,357 shares of the biopharmaceutical company’s stock valued at $4,112,000 after acquiring an additional 1,445 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Royalty Pharma by 6.1% during the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after acquiring an additional 417,490 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other 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.