JPMorgan Chase & Co. Issues Positive Forecast for Royalty Pharma (NASDAQ:RPRX) Stock Price

Royalty Pharma (NASDAQ:RPRX) had its price target upped by stock analysts at JPMorgan Chase & Co. from $58.00 to $62.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.70% from the company’s current price.

RPRX has been the subject of several other reports. Citigroup lifted their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. The Goldman Sachs Group reissued a “buy” rating and set a $66.00 price objective on shares of Royalty Pharma in a research report on Thursday. UBS Group boosted their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Weiss Ratings lowered Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Royalty Pharma in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $60.86.

Royalty Pharma Trading Down 0.4%

RPRX traded down $0.22 during trading on Friday, hitting $57.04. The company’s stock had a trading volume of 817,802 shares, compared to its average volume of 3,537,848. The firm has a market capitalization of $32.84 billion, a P/E ratio of 39.38, a PEG ratio of 10.11 and a beta of 0.43. Royalty Pharma has a twelve month low of $34.08 and a twelve month high of $60.44. The stock’s fifty day moving average price is $56.45 and its 200-day moving average price is $50.42. The company has a quick ratio of 2.66, a current ratio of 2.80 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The company had revenue of $674.14 million during the quarter, compared to the consensus estimate of $758.93 million. Analysts anticipate that Royalty Pharma will post 5.24 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total transaction of $721,831.00. Following the sale, the executive vice president directly owned 18,197 shares in the company, valued at $959,891.75. The trade was a 42.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the transaction, the director directly owned 191,803 shares in the company, valued at $10,165,559. This trade represents a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 393,009 shares of company stock worth $21,601,827 in the last ninety days. Company insiders own 18.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Phillips Wealth Planners LLC raised its stake in Royalty Pharma by 1.9% during the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after buying an additional 242 shares during the last quarter. Strs Ohio grew its holdings in Royalty Pharma by 2.8% during the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 252 shares during the period. Glenmede Trust Co. NA raised its position in shares of Royalty Pharma by 3.4% in the 1st quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock worth $375,000 after acquiring an additional 254 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after acquiring an additional 255 shares in the last quarter. Finally, Cary Street Partners Financial LLC grew its position in shares of Royalty Pharma by 1.1% during the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after buying an additional 260 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.