Royalty Pharma price target raised to $57 from $51 at UBS

UBS analyst Ashwani Verma raised the firm’s price target on Royalty Pharma (RPRX) to $57 from $51 and keeps a Buy rating on the shares. Royalty Pharma has continued to outperform year to date, and further upside is expected driven by a steady pipeline of biopharma catalysts and improving sector sentiment that is attracting broader investor participation, though the stock may not react immediately to individual news events or quarterly results, with gains instead accruing gradually as the investment thesis gains wider acceptance, the analyst tells investors in a research note.