Morgan Stanley analyst Terence Flynn has maintained their bullish stance on RPRX stock, giving a Buy rating on August 19.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Terence Flynn has given his Buy rating due to a combination of factors surrounding Royalty Pharma’s strategic moves and potential growth prospects. The company recently announced a significant funding agreement with ZBIO for the development and commercialization of obexelimab, a promising bifunctional antibody. This agreement includes an initial investment of $75 million to support the potential U.S. commercial launch in IgG4-Related Disease, with additional milestone payments contingent on successful trial outcomes and regulatory approvals.
Furthermore, Royalty Pharma stands to benefit from a 5.5% royalty on global net sales of obexelimab, enhancing its revenue streams. The anticipated data from ongoing Phase 2 trials in Relapsing Multiple Sclerosis and SLE further bolster the potential for future growth. These strategic initiatives, coupled with the upcoming Investor Day, are seen as catalysts that could drive the company’s performance, justifying Flynn’s optimistic outlook.
According to TipRanks, Flynn is a 3-star analyst with an average return of 3.2% and a 52.61% success rate. Flynn covers the Healthcare sector, focusing on stocks such as BioNTech SE, Gilead Sciences, and Biogen.
In another report released on August 19, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $40.00 price target.