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Tag: Royalty Pharma

  • Sequoia Financial Advisors LLC Invests $233,000 in Royalty Pharma PLC $RPRX

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    Sequoia Financial Advisors LLC purchased a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,470 shares of the biopharmaceutical company’s stock, valued at approximately $233,000.

    Several other large investors also recently modified their holdings of RPRX. Victory Capital Management Inc. increased its stake in shares of Royalty Pharma by 270.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock worth $112,788,000 after purchasing an additional 2,644,923 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Royalty Pharma by 2,543.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company’s stock worth $33,656,000 after purchasing an additional 1,040,234 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Royalty Pharma by 462.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,090,591 shares of the biopharmaceutical company’s stock worth $33,950,000 after purchasing an additional 896,555 shares during the last quarter. Nuveen LLC bought a new position in Royalty Pharma in the 1st quarter worth approximately $27,749,000. Finally, AQR Capital Management LLC boosted its holdings in Royalty Pharma by 37.0% in the 1st quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock worth $80,381,000 after buying an additional 704,414 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

    Royalty Pharma Stock Up 0.0%

    Shares of NASDAQ:RPRX opened at $36.85 on Friday. The firm has a fifty day moving average price of $36.11 and a two-hundred day moving average price of $34.95. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $38.00. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.03 and a beta of 0.60.

    Royalty Pharma (NASDAQ:RPRX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The firm had revenue of $578.67 million during the quarter, compared to the consensus estimate of $750.06 million. Analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

    Royalty Pharma Announces Dividend

    The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 14th. Royalty Pharma’s dividend payout ratio (DPR) is presently 50.87%.

    Analysts Set New Price Targets

    Several research firms recently commented on RPRX. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Citigroup raised their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Morgan Stanley cut their price objective on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. The Goldman Sachs Group began coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, Royalty Pharma has an average rating of “Buy” and an average target price of $46.00.

    Get Our Latest Analysis on Royalty Pharma

    Royalty Pharma Company Profile

    (Free Report)

    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.

    Further Reading

    Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)



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  • Morgan Stanley Predicts Up to 670% Jump for These 2 ‘Strong Buy’ Stocks

    Morgan Stanley Predicts Up to 670% Jump for These 2 ‘Strong Buy’ Stocks

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    We’re now just days away from the ’24 elections, and what a race it’s been. Polls have been all over the place, and both parties can make legitimate claims to holding the advantage as we approach Tuesday’s vote.

    Amidst the political drama, the stock market has remained robust, with the S&P 500 surging 20% year-to-date. Historically, the index tends to perform well in election years, but this year has been exceptional, making it the most bullish election-year market in decades. A mix of macroeconomic factors, especially expectations of further Fed rate cuts, has fueled strong investor confidence.

    Morgan Stanley’s analysts are embracing this momentum, picking out stocks they believe are primed for gains regardless of the election outcome. They’ve zeroed in on two specific stocks poised for substantial growth in the coming year – including one with a potential upside as high as 670%.

    As if that weren’t compelling enough, according to the TipRanks database, both stocks are also rated as Strong Buys by the analyst consensus. Let’s see what’s driving this optimism among market experts.

    Tenaya Therapeutics (TNYA)

    We’ll start with Tenaya Therapeutics, a research-oriented biopharmaceutical company that is focused on developing and producing new therapeutic drugs for the treatment of heart disease. Tenaya is targeting its approach on the underlying causes of heart disease, including rare genetic disorders. The company’s approach includes gene therapies, cellular regeneration, and precision medicines.

    Heart disease is the world’s leading cause of death among adults, making its treatment an important niche. Tenaya currently has two primary drug candidates under investigation, TN-201 and TN-401, for the treatment of MYBPC3-associated hypertrophic cardiomyopathy and PKP2-associated arrhythmogenic right ventricular cardiomyopathy, respectively.

    The leading candidate, TN-201, is currently undergoing a Phase 1b human clinical trial. The study is focused on safety and tolerability and will enroll up to 24 adults. Data from the first patient cohort in the study are expected to be released in December, presenting a significant milestone for the stock. Meanwhile, enrollment is ongoing for the second cohort.

    The second candidate, TN-401, entered its Phase 1 RIDGE-1 trial earlier this year. This global, open-label, dose-escalation study, which will continue patient dosing through Q4 2024, aims to evaluate the safety, tolerability, and effectiveness of a single intravenous dose of TN-401.

    Morgan Stanley analyst Michael Ulz views TNYA as a compelling investment, with TN-201 as the primary value driver. Ulz notes, “Interim Ph1b MyPEAK-1 data for TN-201 in nHCM are expected in [December] and represent a key catalyst for Tenaya’s lead program. We see a favorable risk/reward on initial data, which could provide early de-risking, followed by more robust data in 2025.”

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