Royalty Pharma (NASDAQ:RPRX) Upgraded by TD Cowen to Strong-Buy Rating

Royalty Pharma (NASDAQ:RPRX) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

RPRX has been the topic of a number of other reports. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Citigroup cut their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $41.67.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $25.23 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The firm has a market cap of $14.87 billion, a P/E ratio of 13.07, a P/E/G ratio of 4.36 and a beta of 0.46. Royalty Pharma has a 1-year low of $24.05 and a 1-year high of $31.66. The firm has a 50-day moving average of $26.32 and a 200-day moving average of $27.13.

Institutional Trading of Royalty Pharma

A number of hedge funds have recently modified their holdings of RPRX. Blue Trust Inc. increased its stake in shares of Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 943 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Royalty Pharma during the third quarter valued at approximately $61,000. EverSource Wealth Advisors LLC increased its stake in shares of Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 655 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in shares of Royalty Pharma by 99.9% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 1,729 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its position in shares of Royalty Pharma by 274.7% in the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock worth $168,000 after purchasing an additional 4,683 shares in the last quarter. Institutional investors 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.