Royalty Pharma keeps making its mark in the biotech sector with significant developments. The company recently recognized and awarded Michael Miliken's contributions to cancer research and announced the declaration of its Q4 2024 dividend. Besides, it has entered into a $350 million royalty funding agreement with Syndax Pharmaceuticals, and it's planning to acquire a royalty interest in Geron's RYTELO worth $125 million. Despite a recent dip in shares, hitting a new 52-week low, it is regarded as having a massive upside potential with hedge funds amongst the big investors. Additionally, Simplified Asset Management increased its position in the company while Los Angeles Capital Management cut theirs. Royalty Pharma's latest Q3 results reflect revenues of $565 million, below the consensus estimate of $696.1 million. However, the company has shown robust Q3 growth, raising its guidance. Its Q3 report demonstrated an EPS of US$0.92, a considerable rise from the US$0.16 in Q3 2023. Furthermore, a $150 million royalty funding agreement has been established between Royalty Pharma and Ascendis Pharma. Despite price target revisions and recent stock sells by insiders, the company remains a strong player in the current market.
Royalty Pharma Stocks News Analytics from Sun, 26 Nov 2023 08:00:00 GMT to Sat, 16 Nov 2024 13:00:00 GMT -
Rating -1
- Innovation 3
- Information 8
- Rumor 1
