Morgan Stanley Begins Coverage on Royalty Pharma (NASDAQ:RPRX)

Morgan Stanley began coverage on shares of Royalty Pharma (NASDAQ:RPRX) in a report published on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $51.00 price objective on the biopharmaceutical company’s stock.

RPRX has been the topic of a number of other research reports. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Citigroup reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $42.50.

Royalty Pharma Trading Up 2.7%

Shares of NASDAQ:RPRX opened at $34.02 on Friday. The company has a market capitalization of $19.61 billion, a P/E ratio of 23.46, a P/E/G ratio of 2.31 and a beta of 0.49. Royalty Pharma has a 1 year low of $24.05 and a 1 year high of $34.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The business’s 50 day simple moving average is $32.39 and its 200 day simple moving average is $30.01.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, research analysts anticipate that Royalty Pharma will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, May 16th. Royalty Pharma’s dividend payout ratio is presently 47.57%.

Institutional Investors Weigh In On Royalty Pharma

A number of large investors have recently modified their holdings of the business. Applied Finance Capital Management LLC boosted its holdings in shares of Royalty Pharma by 3.0% in the 1st quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company’s stock valued at $351,000 after purchasing an additional 329 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Royalty Pharma by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company’s stock valued at $1,238,000 after acquiring an additional 349 shares during the last quarter. Keene & Associates Inc. lifted its stake in shares of Royalty Pharma by 1.9% in the 4th quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company’s stock valued at $495,000 after acquiring an additional 370 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Royalty Pharma by 21.8% in the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 371 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Royalty Pharma by 31.3% in the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 376 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

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.