Royalty Pharma plc (NASDAQ:RPRX) is a heavily favored investment among institutional shareholders who control approximately 70% of the company. Following the sale of a portion of its heart drug share to Royalty Pharma for up to $575 million,
Cytokinetics left investors frustrated, lowering hopes for a potential buyout. Brokerages also gave a consensus recommendation of 'Moderate Buy' for Royalty Pharma, paralleling a $43.00 average target price. Despite some disturbances like Cytokinetics' stock offer, the firm sealed over $905M in a deal with
Agios for a cancer drug and furthered its stake in SMA drug Evrysdi, positioning itself strongly in the biotech market. A drop in Royalty Pharma's market cap of $631m, however, is a concern for institutional investors. The company beat Q1 earnings and revenue estimates and saw substantial support from the likes of
Ballentine Partners LLC and the
California State Teachers Retirement System. Skeptics, however, warn of potential unpleasant surprises and weaker earnings than they seem, as well as a high level of debt.
Royalty Pharma Stocks News Analytics from Tue, 16 Jun 2020 07:00:00 GMT to Fri, 28 Jun 2024 15:42:57 GMT -
Rating 3
- Innovation -3
- Information 8
- Rumor -4
