TD Cowen analyst Marc Frahm raised the firm’s price target on Royalty Pharma (RPRX) to $45 from $42 and keeps a Buy rating on the shares. The firm raised its target as the company benefits from biopharma tailwinds but with fewer risks. It is the leader in biopharma royalty acquisitions with a track record that bolsters confidence in sustainable growth on the back of industry innovation and persistent funding needs.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RPRX:
- Royalty Pharma, Denali Therapeutics enter $275M royalty funding agreement
- Denali Therapeutics, Royalty Pharma announce $275M royalty funding agreement
- Royalty Pharma downgraded to Hold from Buy at TD Cowen
- Royalty Pharma 14.244M share Block Trade priced at $40.00
- Royalty Pharma 14.244M share Block Trade; price range $40.00-$40.78