Royalty Pharma (NASDAQ:RPRX – Get Free Report) is scheduled to post its quarterly earnings results before the market opens on Thursday, February 15th. Analysts expect Royalty Pharma to post earnings of $1.00 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.
Royalty Pharma Stock Performance
NASDAQ:RPRX opened at $29.05 on Tuesday. Royalty Pharma has a 12-month low of $25.92 and a 12-month high of $38.51. The company has a quick ratio of 13.51, a current ratio of 13.51 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $17.36 billion, a PE ratio of 93.71, a price-to-earnings-growth ratio of 2.46 and a beta of 0.42. The firm has a 50-day moving average price of $28.39 and a 200 day moving average price of $28.31.
Royalty Pharma Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 16th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.20. Royalty Pharma’s dividend payout ratio is 270.97%.
Insider Activity at Royalty Pharma
Hedge Funds Weigh In On Royalty Pharma
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Royalty Pharma in the 4th quarter valued at $150,822,000. Vanguard Group Inc. grew its holdings in shares of Royalty Pharma by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock valued at $1,241,289,000 after buying an additional 2,224,056 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Royalty Pharma by 58.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,647,056 shares of the biopharmaceutical company’s stock valued at $112,111,000 after buying an additional 1,343,711 shares during the period. Millennium Management LLC grew its holdings in shares of Royalty Pharma by 1,516.8% in the 4th quarter. Millennium Management LLC now owns 984,366 shares of the biopharmaceutical company’s stock valued at $38,902,000 after buying an additional 923,481 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Royalty Pharma by 4.6% in the 1st quarter. BlackRock Inc. now owns 17,483,188 shares of the biopharmaceutical company’s stock valued at $681,145,000 after buying an additional 767,864 shares during the period. 49.03% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. TheStreet lowered shares of Royalty Pharma from a “c” rating to a “d+” rating in a report on Friday, November 10th. Morgan Stanley raised their price objective on shares of Royalty Pharma from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, November 9th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Royalty Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.
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.
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