Tigress Financial raises Royalty Pharma (NASDAQ:RPRX) price target to $57.00


Royalty Pharma (NASDAQ:RPRX – Get Assessment) had its price target raised by investment analysts Tigress Financial from $52.00 to $57.00 in a research report released Thursday to clients and investors, reports The Fly. The brokerage currently has a “buy” rating on shares of the biopharmaceutical company. Tigress Financial’s price target indicates a potential upside of 34.02% from the company’s current price.

A number of other stock analysts have also recently released reports on the stock. JPMorgan Chase & Co. moved Royalty Pharma shares from a “neutral” rating to an “overweight” rating and set a $50.00 price target for the company in a Thursday, April 14 research report . They noted that the move was a review call. UBS Group launched a hedge on Royalty Pharma shares in a Monday, June 13 research note. They issued a “buy” rating and a price target of $47.00 on the stock. Scotiabank began covering Royalty Pharma shares in a Friday, May 13 report. They issued an “outperform” rating and a target price of $53.00 for the company. Morgan Stanley upgraded Royalty Pharma shares from an ‘equal weight’ rating to an ‘overweight’ rating and raised its price target for the company from $46.00 to $48.00 in a research report Wednesday, April 6. Finally, the Goldman Sachs Group began covering Royalty Pharma shares in a research report on Wednesday, April 27. They issued a “buy” rating and a price target of $56.00 for the company. One investment analyst gave the stock a hold rating and seven gave the company a buy rating. Based on MarketBeat data, Royalty Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Shares of RPRX rose $0.14 in Thursday’s midday session, hitting $42.53. 9,041 shares of the company have been traded, against an average volume of 1,975,116. The company has a market capitalization of $25.82 billion, a P/E ratio of 42.47, a PEG ratio of 1.19 and a beta of 0.27. The company has a debt ratio of 0.70, a quick ratio of 21.95 and a current ratio of 21.95. The company’s 50-day moving average price is $40.72 and its two-hundred-day moving average price is $40.31. Royalty Pharma has a 52 week low of $34.86 and a 52 week high of $44.75.

Royalty Pharma (NASDAQ:RPRX – Get Rating) last announced its results on Thursday, May 5. The biopharmaceutical company reported EPS of $0.61 for the quarter, missing the consensus estimate of $0.72 per ($0.11). The company posted revenue of $605.00 million for the quarter, versus a consensus estimate of $583.77 million. Royalty Pharma had a return on equity of 16.75% and a net margin of 26.46%. Analysts expect Royalty Pharma to post EPS of 2.96 for the current year.

In other news, Executive Vice President Marshall Urist sold 23,333 shares of the company in a trade on Monday, May 16. The shares were sold at an average price of $39.85, for a total transaction of $929,820.05. Following the sale, the executive vice president now owns 46,667 shares of the company, valued at approximately $1,859,679.95. The sale was disclosed in a document filed with the SEC, accessible via this link. Additionally, Executive Vice President James F. Reddoch sold 75,000 shares of the company in a trade on Thursday, May 19. The shares were sold at an average price of $40.44, for a total transaction of $3,033,000.00. Following the sale, the executive vice president now owns 1,095,800 shares of the company, valued at approximately $44,314,152. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 452,970 shares of the company worth $18,554,200. 24.86% of the shares are held by insiders.

Major investors have recently changed their stake in the company. Vanguard Group Inc. increased its position in Royalty Pharma shares by 7.5% during the first quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company valued at $1,241,289,000 after purchasing an additional 2,224,056 shares in the last quarter. Adage Capital Partners GP LLC increased its position in Royalty Pharma shares by 0.6% during the 4th quarter. Adage Capital Partners GP LLC now owns 24,842,715 shares of the biopharmaceutical company valued at $989,982,000 after purchasing an additional 144,900 shares in the last quarter. BlackRock Inc. increased its position in Royalty Pharma shares by 4.6% during the 1st quarter. BlackRock Inc. now owns 17,483,188 shares of the biopharmaceutical company valued at $681,145,000 after purchasing an additional 767,864 shares in the last quarter. Viking Global Investors LP increased its position in Royalty Pharma shares by 4.4% during the first quarter. Viking Global Investors LP now owns 10,764,472 shares of the biopharmaceutical company valued at $419,384,000 after buying an additional 449,094 shares in the last quarter. Finally, State Street Corp increased its position in Royalty Pharma shares by 9.7% during the 1st quarter. State Street Corp now owns 7,762,572 shares of the biopharmaceutical company valued at $302,430,000 after buying an additional 685,242 shares in the last quarter. 51.68% of the shares are held by institutional investors and hedge funds.

Royal Pharma Company Profile (Get a rating)

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and funder of innovations in the biopharmaceutical industry in the United States. She 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 non-profit organizations, small and medium biotech companies and pharmaceutical companies.

Further reading

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Analyst Recommendations for Royalty Pharma (NASDAQ: RPRX)

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