TD Cowen Downgrades Royalty Pharma (NASDAQ:RPRX) to Hold

Royalty Pharma (NASDAQ:RPRX - Get Free Report) was downgraded by TD Cowen from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

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A number of other equities analysts have also issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They set a "buy" rating and a $42.00 target price on the stock. Wall Street Zen upgraded shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Morgan Stanley reduced their price objective on Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Friday, October 10th. Citigroup lifted their target price on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Weiss Ratings downgraded Royalty Pharma from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $46.00.

Check Out Our Latest Analysis on Royalty Pharma

Royalty Pharma Price Performance

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Royalty Pharma stock opened at $39.46 on Monday. The business's fifty day moving average is $36.91 and its two-hundred day moving average is $35.81. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a market cap of $22.78 billion, a P/E ratio of 29.89, a P/E/G ratio of 2.06 and a beta of 0.56. Royalty Pharma has a 52 week low of $24.05 and a 52 week high of $41.24.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.06. The company had revenue of $609.29 million during the quarter, compared to analyst estimates of $765.01 million. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%. Equities research analysts forecast that Royalty Pharma will post 4.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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A number of large investors have recently made changes to their positions in the stock. Nordea Investment Management AB increased its stake in Royalty Pharma by 603.9% during the 2nd quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company's stock worth $23,701,000 after purchasing an additional 562,799 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its holdings in shares of Royalty Pharma by 55.1% in the second quarter. Cookson Peirce & Co. Inc. now owns 34,263 shares of the biopharmaceutical company's stock valued at $1,234,000 after buying an additional 12,171 shares during the period. Koss Olinger Consulting LLC boosted its holdings in shares of Royalty Pharma by 201.5% in the first quarter. Koss Olinger Consulting LLC now owns 31,756 shares of the biopharmaceutical company's stock valued at $989,000 after buying an additional 21,225 shares during the period. Jupiter Asset Management Ltd. increased its position in shares of Royalty Pharma by 126.5% during the second quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company's stock worth $89,020,000 after acquiring an additional 1,380,115 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC acquired a new stake in shares of Royalty Pharma during the first quarter worth $389,000. Institutional investors and hedge funds 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.

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