What Do Analysts Think About Royalty Pharma Plc (RPRX)?

Royalty Pharma Plc (NASDAQ:RPRX) is one of the most profitable biotech stocks to buy. On October 10, Morgan Stanley analyst Terence Flynn slashed the price target on Royalty Pharma Plc (NASDAQ:RPRX) to $54 from $55 while keeping an overweight rating on the shares.

Is Royalty Pharma plc (RPRX) The Most Profitable Biotech Stock To Buy Right Now?

The rating update came ahead of Q3 earnings, with the firm telling investors in a preview for the biopharma group that it adjusted models for IQVIA trends along with intra-quarter updates.

The same day, Citi analyst Geoff Meacham also maintained a Buy rating on Royalty Pharma Plc (NASDAQ:RPRX) and set a $43 price target.

Goldman Sachs analyst Asad Haider is another analyst bullish on the stock, as he assigned Royalty Pharma Plc (NASDAQ:RPRX) a Buy rating on October 2.

Haider supported the optimistic rating with the company’s growth potential and strategic positioning, stating that Royalty Pharma Plc (NASDAQ:RPRX) offers investors a unique opportunity to attain exposure to a diversified portfolio of biopharma royalty streams. This helps mitigate the typical risks and volatility linked to biotech investments.

He also said that Royalty Pharma Plc (NASDAQ:RPRX) is experiencing the start of a notable expansion phase anticipated to capitalize on the rising market for royalty funding. The analyst added that the innovation trends in China are further driving growth prospects.

Royalty Pharma Plc (NASDAQ:RPRX) is a funder of innovation in the biopharmaceutical industry and a buyer of biopharmaceutical royalties. It collaborates with innovators from research hospitals, non-profits, and academic institutions through small and mid-cap biotech companies to global pharma companies. The company funds innovation in the industry both directly, by partnering with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly, by acquiring existing royalties from the original innovators. Royalty Pharma Plc’s (NASDAQ:RPRX) portfolio includes royalties in over 35 commercial products, including Johnson & Johnson’s Tremfya, AbbVie and Johnson & Johnson’s Imbruvica, Novartis’ Promacta, Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and others.

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Disclosure: None. This article is originally published at Insider Monkey.