Royalty Pharma (NASDAQ:RPRX) Hits New 52-Week High on Earnings Beat

Royalty Pharma plc (NASDAQ:RPRX) shares hit a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $32.72 and last traded at $32.15, with a volume of 1138540 shares trading hands. The stock had previously closed at $31.72.

The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 50.53% and a return on equity of 24.65%.

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be given a dividend of $0.22 per share. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, February 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.76%. Royalty Pharma’s dividend payout ratio (DPR) is currently 43.52%.

Wall Street Analysts Forecast Growth

RPRX has been the topic of several analyst reports. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Citigroup reduced their price target 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. Finally, TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $41.67.

Hedge Funds Weigh In On Royalty Pharma

Large investors have recently modified their holdings of the business. Brooklyn Investment Group raised its stake in shares of Royalty Pharma by 1,006.9% during the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 876 shares during the last quarter. Allworth Financial LP raised its stake in shares of Royalty Pharma by 417.6% during the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 877 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 943 shares during the last quarter. Riverview Trust Co raised its stake in shares of Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 1,186 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 997 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

The company’s 50 day moving average price is $27.93 and its 200-day moving average price is $27.65. The stock has a market cap of $18.78 billion, a P/E ratio of 16.50 and a beta of 0.49. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

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.