Cytokinetics has sold a share of its heart drug to Royalty Pharma for up to $575 million, adjusting dreams of a buyout. Various groups, such as KBC Group NV, Principal Financial Group Inc., and TD Asset Management Inc, are reducing their positions in Royalty Pharma. Despite recent slips, the company's fundamentals were strong and Q1 earnings exceeded expectations. Significant transactions like purchasing of shares were done by institutions like California State Teachers Retirement System, NEOS Investment Management LLC, and the Treasurer of the State of North Carolina.
However, there are speculations of unpleasant surprises that might impact the company's shares. The company announced a dividend of $0.21, affirming Royalty Pharma's solid start of the year. Goldman Sachs raised their target for the company's shares due to deal activity. Despite being downgraded by UBS Group to Neutral, it remains one of the best names in the pharmaceuticals industry. The presence of institutional owners in the company is heavily pronounced, currently at 70% ownership. Lastly, they backed MorphoSys's acquisition with strategic investment generating high anticipation for the next earnings season.
Royalty Pharma Stocks News Analytics from Tue, 16 Jun 2020 07:00:00 GMT to Sun, 09 Jun 2024 10:52:16 GMT - Rating 6 - Innovation 2 - Information 7 - Rumor -4
