ProShare Advisors LLC and Mitsubishi UFJ Trust & Banking Corp increased their stock holdings in Royalty Pharma. Strong institutional ownership is seen for RPRX, with 70% of shares held by institutional investors. The company's stock performed decently, consistently breaking above both the 200-day and 50-day moving averages and meeting analyst consensus for a 'moderate buying' recommendation. It has also proved to be an appealing stock for investors with its solid financial performance and consistent dividend payments, the Q3 dividend being $0.21 per share. Positive earning estimates and the likelihood of beating them in the next report create a bullish sentiment. The price target for RPRX was raised to $51 by Morgan Stanley. Contractual deals include Cytokinetics selling Royalty Pharma a share of its heart drug for $575 million, frustrating investors hoping for a buyout. Continued expansion of strategic partnerships and funding notwithstanding lukewarm reception to some recent deals and an acquisition by MorphoSys were also reported.
Royalty Pharma Stocks News Analytics from Mon, 15 Jun 2020 07:00:00 GMT to Sun, 21 Jul 2024 17:19:25 GMT -
Rating 6
- Innovation 7
- Information 2
- Rumor 5
