Royalty Pharma (NASDAQ:RPRX) Downgraded to Hold Rating by Wall Street Zen

Royalty Pharma (NASDAQ:RPRX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other analysts have also recently weighed in on the company. Citigroup boosted their price objective on Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their price objective on Royalty Pharma from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $48.00.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX opened at $36.36 on Friday. The stock has a market capitalization of $21.20 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.29 and a beta of 0.58. Royalty Pharma has a 1-year low of $24.05 and a 1-year high of $38.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $36.36 and a two-hundred day moving average price of $34.28.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $578.67 million during the quarter, compared to analysts’ expectations of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. Equities analysts predict that Royalty Pharma will post 4.49 earnings per share for the current year.

Institutional Trading of Royalty Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Royalty Pharma in the 2nd quarter valued at approximately $181,388,000. Victory Capital Management Inc. grew its position in shares of Royalty Pharma by 270.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock valued at $112,788,000 after purchasing an additional 2,644,923 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Royalty Pharma by 118.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,976,480 shares of the biopharmaceutical company’s stock valued at $107,243,000 after purchasing an additional 1,615,706 shares during the period. Amundi grew its position in shares of Royalty Pharma by 126.1% in the 2nd quarter. Amundi now owns 2,797,471 shares of the biopharmaceutical company’s stock valued at $101,240,000 after purchasing an additional 1,560,093 shares during the period. Finally, Jupiter Asset Management Ltd. grew its position in shares of Royalty Pharma by 126.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company’s stock valued at $89,020,000 after purchasing an additional 1,380,115 shares during the period. 54.35% of the stock is owned by 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.