Royalty Pharma (NASDAQ:RPRX) Reaches New 12-Month High on Earnings Beat

Royalty Pharma plc (NASDAQ:RPRX)’s share price reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $32.72 and last traded at $32.15, with a volume of 1138540 shares traded. The stock had previously closed at $31.72.

The biopharmaceutical company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.65% and a net margin of 50.53%.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be paid a $0.22 dividend. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.72%. Royalty Pharma’s payout ratio is currently 43.52%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup reduced their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Royalty Pharma has a consensus rating of “Buy” and an average target price of $41.67.

Institutional Investors Weigh In On Royalty Pharma

Institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group raised its position in shares of Royalty Pharma by 1,006.9% during the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 876 shares during the last quarter. Allworth Financial LP raised its position in shares of Royalty Pharma by 417.6% during the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 877 shares during the last quarter. Blue Trust Inc. raised its position in shares of Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 943 shares during the last quarter. Riverview Trust Co raised its position in shares of Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 1,186 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 997 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Trading Up 0.3 %

The company has a market cap of $19.05 billion, a P/E ratio of 16.76 and a beta of 0.49. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $28.05 and a two-hundred day moving average price of $27.68.

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.