Royalty Pharma plc (RPRX) is continuing with its increase in strategic investments, as it capitalizes on biotech market dynamics. Recently, the firm bought a stake in Cytokinetics' heart drug which could be valued up to
$575 million. Even though this deal deflated takeover aspirations, it bolstered Royalty Pharma's product portfolio. Some institutions suggest that RPRX is a defensive stock to invest in, a sentiment backed by StockNews.com which upgraded Royalty Pharma to '
Buy'. Its standing was further strengthened when Swedbank AB increased their share ownership in RPRX.
Cwm LLC has conversely lowered their position. Notable events include Royalty Pharma's solid start to the year, and recent quarterly results exceeding expectations. They also declared a dividend of
$0.21 per share.
The Goldman Sachs Group has raised their price target for RPRX to $51.00. Earnings calls reveal that the company has reported strong Q2 growth and raised their 2024 outlook. Amid this, Royalty Pharma insiders sold off shares amounting to
US $44 million. Finally, Royalty Pharma is not weighed down with excessive debt. The stock is mostly held by institutional owners, accounting for 70% of total shares. Among them, DekaBank Deutsche Girozentrale and Atria Investments bought significant number of shares.
Royalty Pharma Stocks News Analytics from Tue, 16 Jun 2020 07:00:00 GMT to Sat, 17 Aug 2024 19:58:20 GMT -
Rating 7
- Innovation 5
- Information 7
- Rumor 4
