Ultime notizie per Royalty Pharma (NASDAQ:RPRX) Azioni

Royalty Pharma

Royalty Pharma PLC is the largest buyer of biopharmaceutical royalties. The firm has a portfolio of royalties that entitles it to payments based on the sales of biopharma products. Royalty Pharma receives royalties on more than 35 commercial products, including AbbVie and Johnson & Johnson's Imbruvica (for chronic lymphocytic leukemia and other blood cancers), Biogen's Tysabri (for relapsing forms of multiple sclerosis), Vertex's cystic fibrosis franchise, and 10 development-stage product candidates.

Royalty Pharma plc - Class A Ordinary Shares

Royalty Pharma PLC

Royalty Pharma's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NYSE">RPRX</a>) short percent of float has fallen 3.24% since its last report. The company recently reported that it has 14.19 million shares sold short, which is 3.29% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.05 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Royalty Pharma Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728413113_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Royalty Pharma has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Royalty Pharma's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Royalty Pharma's peer group average for short interest as a percentage of float is 4.51%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

RPRX

Peering Into Royalty Pharma's Recent Short Interest

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PFE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$30.00</td>
<td>$65.0K</td>
<td>37.5K</td>
<td>2.1K</td>
</tr>
<tr>
<td>MRNA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/27/24</td>
<td>$70.00</td>
<td>$26.2K</td>
<td>814</td>
<td>482</td>
</tr>
<tr>
<td>SRPT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$130.00</td>
<td>$25.3K</td>
<td>972</td>
<td>303</td>
</tr>
<tr>
<td>EW</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$67.50</td>
<td>$196.0K</td>
<td>7</td>
<td>201</td>
</tr>
<tr>
<td>EXAS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$62.50</td>
<td>$90.0K</td>
<td>1.0K</td>
<td>200</td>
</tr>
<tr>
<td>ILMN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$128.00</td>
<td>$32.6K</td>
<td>6</td>
<td>200</td>
</tr>
<tr>
<td>AMGN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$315.00</td>
<td>$105.3K</td>
<td>561</td>
<td>174</td>
</tr>
<tr>
<td>ALGN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$155.00</td>
<td>$55.5K</td>
<td>0</td>
<td>150</td>
</tr>
<tr>
<td>SYK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$380.00</td>
<td>$98.7K</td>
<td>10</td>
<td>57</td>
</tr>
<tr>
<td>RPRX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$20.00</td>
<td>$50.2K</td>
<td>43</td>
<td>54</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding PFE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), we observe a call option trade with bullish sentiment. It expires in 485 day(s) on January 16, 2026. Parties traded 200 contract(s) at a $30.00 strike. The total cost received by the writing party (or parties) was $65.0K, with a price of $325.0 per contract. There were 37533 open contracts at this strike prior to today, and today 2165 contract(s) were bought and sold. 
• Regarding MRNA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), we observe a put option sweep with bullish sentiment. It expires in 9 day(s) on September 27, 2024. Parties traded 104 contract(s) at a $70.00 strike. This particular put needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $26.2K, with a price of $252.0 per contract. There were 814 open contracts at this strike prior to today, and today 482 contract(s) were bought and sold. 
• Regarding SRPT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>), we observe a call option trade with bullish sentiment. It expires in 30 day(s) on October 18, 2024. Parties traded 59 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $25.3K, with a price of $430.0 per contract. There were 972 open contracts at this strike prior to today, and today 303 contract(s) were bought and sold. 
• For EW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>), we notice a put option trade that happens to be neutral, expiring in 485 day(s) on January 16, 2026. This event was a transfer of 200 contract(s) at a $67.50 strike. The total cost received by the writing party (or parties) was $196.0K, with a price of $980.0 per contract. There were 7 open contracts at this strike prior to today, and today 201 contract(s) were bought and sold. 
• For EXAS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>), we notice a put option trade that happens to be bullish, expiring in 121 day(s) on January 17, 2025. This event was a transfer of 200 contract(s) at a $62.50 strike. The total cost received by the writing party (or parties) was $90.0K, with a price of $450.0 per contract. There were 1039 open contracts at this strike prior to today, and today 200 contract(s) were bought and sold. 
• Regarding ILMN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), we observe a call option sweep with bearish sentiment. It expires in 2 day(s) on September 20, 2024. Parties traded 102 contract(s) at a $128.00 strike. This particular call needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $32.6K, with a price of $320.0 per contract. There were 6 open contracts at this strike prior to today, and today 200 contract(s) were bought and sold. 
• Regarding AMGN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), we observe a put option sweep with bearish sentiment. It expires in 121 day(s) on January 17, 2025. Parties traded 70 contract(s) at a $315.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $105.3K, with a price of $1505.0 per contract. There were 561 open contracts at this strike prior to today, and today 174 contract(s) were bought and sold. 
• Regarding ALGN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>), we observe a put option trade with bullish sentiment. It expires in 211 day(s) on April 17, 2025. Parties traded 150 contract(s) at a $155.00 strike. The total cost received by the writing party (or parties) was $55.5K, with a price of $370.0 per contract. There were 0 open contracts at this strike prior to today, and today 150 contract(s) were bought and sold. 
• For SYK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), we notice a put option sweep that happens to be bearish, expiring in 275 day(s) on June 20, 2025. This event was a transfer of 30 contract(s) at a $380.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $98.7K, with a price of $3290.0 per contract. There were 10 open contracts at this strike prior to today, and today 57 contract(s) were bought and sold. 
• For RPRX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>), we notice a call option trade that happens to be bullish, expiring in 211 day(s) on April 17, 2025. This event was a transfer of 54 contract(s) at a $20.00 strike. The total cost received by the writing party (or parties) was $50.2K, with a price of $930.0 per contract. There were 43 open contracts at this strike prior to today, and today 54 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

ALGN

AMGN

EXAS

ILMN

MRNA

SRPT

10 Health Care Stocks With Whale Alerts In Today's Session

Tuesday, Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) reported second-quarter sales of $38.76 million (35.9 million euros), <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">missing the consensus of $92.7 million</a>, down from 47.4 million euros reported a year ago.
Results in the quarter were primarily impacted by a negative adjustment to prior periods' estimates and assumptions for sales deductions of 27.1 million euros, where 19.5 million euros and 7.6 million euros were attributable to the three months ended&nbsp;March 31, 2024, and periods before <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40697101/ascendis-pharma-reports-second-quarter-2024-financial-results" rel="noreferrer noopener">January 1, 2024, respectively</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40316248/ascendis-hypoparathyroidism-drug-scores-fda-approval-as-first-and-only-treatment-replacing-takeda" rel="noreferrer noopener">Ascendis&#8217; Hypoparathyroidism Drug Scores FDA Approval As First and Only Treatment, Replacing Takeda&#8217;s Drug Discontinued Due To Supply Issues</a>.
The company reported an EPS loss of $(2.06) or (1.91 euros), missing the consensus loss of $(1.56) and down from a loss of 2.16 euros a year ago.
Skytrofa, indicated as a once-weekly pediatric growth hormone treatment, generated revenue of 26 million euros, a 27%&nbsp;decrease&nbsp;year over year. The 134% year over year volume growth was offset by the cost associated with broader market access.
Recently approved hypoparathyroidism drug Yorvipath&#8217;s revenue totaled €5.2 million, reflecting the first full quarter of commercial launch in&nbsp;Germany&nbsp;and&nbsp;Austria&nbsp;as well as initial revenue in International Markets. Initial revenue in&nbsp;France&nbsp;is expected to start in the fourth quarter of 2024.
Guidance: Ascendis Pharma has lowered its fiscal year 2024 sales guidance for Skytrofa to 220 million euros &#8211; 240 million euros from <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38596710/ascendis-pharma-reports-first-quarter-2024-financial-results" rel="noreferrer noopener">prior guidance of</a> 320 million euros to 340 million euros.
Concurrently, the company entered into a capped synthetic royalty funding agreement based on U.S. net sales of Yorvipath with Royalty Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>).
Under the terms of the agreement, Ascendis receives an upfront payment of $150 million in exchange for a 3% royalty on U.S. net sales of Yorvipath. The royalty payments to Royalty Pharma will cease upon reaching a multiple of 2.0x or 1.65x if Royalty Pharma receives royalties in that amount by <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40697339/royalty-pharma-and-ascendis-pharma-enter-into-150-million-royalty-funding-agreement" rel="noreferrer noopener">December 31, 2029</a>.
Price Action: ASND stock is down 15% at $114.50 during the premarket session at last check Wednesday.
Photo via Shutterstock
Read Next
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<li><a href="https://www.benzinga.com/news/earnings/24/09/40705415/dollar-tree-q2-earnings-revenue-and-eps-miss-cuts-annual-forecasts-as-customers-feel-macro-pressure" target="_blank" rel="noreferrer noopener">Dollar Tree Q2 Earnings: Revenue And EPS Miss, Cuts Annual Forecasts As Customers Feel Macro Pressure On Spending, Stock Tumbles</a>.</li>
</ul>

Biotech

Earnings

News

Guidance

Health Care

Movers

General

ASND

Rare Disease-Focused Ascendis Pharma Stock Falls On Underwhelming Q2 Earnings, Guidance Cut

Contracts

Ascendis Pharma Subsidiary Enters $150M Capped Synthetic Royalty Funding Agreement With Royalty Pharma Based On US Net Sales Of YORVIPATH

On CNBC's &#8220;<a href="https://www.benzinga.com/topic/mad-money-lightning-round">Mad Money Lightning Round</a>,&#8221; Jim Cramer recommended buying Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>).
On July 17, Ally Financial posted stronger-than-expected<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39847452/ally-financial-analyst-sees-consistent-margin-expansion-ahead-q2-results-breakdown"> quarterly earnings results.</a>
Cramer said he is going to hold off from recommending Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>). &#8220;It's kind of like the long knives are out for those guys right now,&#8221; he added.
On Aug. 15, Wells Fargo analyst Michael Turrin downgraded the rating for Snowflake from Overweight to Equal-Weight and lowered the price target from $200 to $130.
When asked about Royalty Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>), he said, &#8220;I always thought there was going to be more to this stock than there has been. It's really been a bit of a bust.&#8221;
On Aug. 8, Royalty Pharma reported worse-than-expected second-quarter financial results. The company reported quarterly earnings of 96 cents per share which missed the analyst consensus estimate of 99 cents per share. The company reported quarterly sales of $537.00 million which missed the analyst consensus estimate of $628.26 million.
Core Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>) is a &#8220;very overvalued situation, principally because of the fact that it's never made any money. But it is another play on crypto. If you like crypto, buy crypto.&#8221;
On Aug. 14, Core Scientific announced that it increased its offering of convertible senior notes from $350 million to $400 million. The company has also given initial purchasers the option to buy up to an extra $60 million in notes.
Price Action:
<ul>
<li>Snowflake shares fell 0.2% to settle at $127.05 on Thursday.</li>
<li>Royalty Pharma shares rose 2.9% to close at $27.41.</li>
<li>Core Scientific shares gained 5.2% to settle at $9.26 on Thursday.</li>
<li>Ally Financial shares gained 1.3% to close at $41.61.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40394036/jim-cramer-recommends-buying-clorox-ceo-has-done-remarkable-job">Jim Cramer Recommends Buying Clorox: &#8216;CEO Has Done Remarkable Job&#8217;</a></li>
</ul>

Long Ideas

Markets

Media

ALLY

Core Scientific, Inc. - Class A Common Stock

CORZ

SNOW

Jim Cramer: This Financial Stock Is A Buy, Core Scientific Is A 'Very Overvalued Situation'

Goldman Sachs analyst Chris Shibutani maintains Royalty Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) with a Buy and raises the price target from $50 to $51.

Price Target

Analyst Ratings

Goldman Sachs Maintains Buy on Royalty Pharma, Raises Price Target to $51

Royalty Pharma shares are trading lower after the company reported worse-than-expected Q2 financial results.

Royalty Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) reported quarterly earnings of $0.96 per share which missed the analyst consensus estimate of $0.99 by 3.03 percent. This is a 14.29 percent increase over earnings of $0.84 per share from the same period last year. The company reported quarterly sales of $537.00 million which missed the analyst consensus estimate of $628.26 million by 14.53 percent. This is a 0.19 percent decrease over sales of $538.00 million the same period last year.

Earnings Misses

Royalty Pharma Q2 Adj $0.96 Misses $0.99 Estimate, Sales $537.00M Miss $628.26M Estimate

Morgan Stanley analyst Terence Flynn maintains Royalty Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) with a Overweight and raises the price target from $48 to $51.

Morgan Stanley Maintains Overweight on Royalty Pharma, Raises Price Target to $51

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings </a>page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the health care sector.
<h3 class="wp-block-heading">Royalty Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>)</h3>
<ul>
<li>Dividend Yield: 3.06%</li>
<li>B of A Securities analyst Geoff Meacham maintained a Buy rating and cut the price target from $40 to $38 on April 12. This analyst has an accuracy rate of 64%.</li>
<li>JP Morgan analyst Chris Schott maintained an Overweight rating and slashed the price target from $45 to $42 on Feb. 20. This analyst has an accuracy rate of 62%.</li>
<li>Recent News: On June 3, Royalty Pharma priced offering of $1.5 billion of senior unsecured notes.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061224&amp;t=be2bearmibe3na1">latest Royalty Pharma news</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="678" height="770" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12045644/Screenshot-2024-06-12-at-2.26.38-PM.png" alt="" class="wp-image-383841" style="width:450px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12045644/Screenshot-2024-06-12-at-2.26.38-PM.png 678w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12045644/Screenshot-2024-06-12-at-2.26.38-PM-264x300.png 264w" sizes="(max-width: 678px) 100vw, 678px" /></a></figure>
<h3 class="wp-block-heading">Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</h3>
<ul>
<li>Dividend Yield: 3.38%</li>
<li>Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating with a price target of $215 on May 6. This analyst has an accuracy rate of 68%.</li>
<li>Morgan Stanley analyst Terence Flynn maintained an Equal-Weight rating and cut the price target from $168 to $167 on April 17. This analyst has an accuracy rate of 70%.</li>
<li>Recent News: Johnson &amp; Johnson is scheduled to host a conference call for investors on Wednesday, July 17 to review second-quarter results.</li>
<li><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061224&amp;t=be2bearmibe3na1">Benzinga Pro's charting tool</a> helped identify the trend in Johnson &amp; Johnson's stock.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="688" height="750" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12045719/Screenshot-2024-06-12-at-2.27.14-PM.png" alt="" class="wp-image-383842" style="width:467px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12045719/Screenshot-2024-06-12-at-2.27.14-PM.png 688w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12045719/Screenshot-2024-06-12-at-2.27.14-PM-275x300.png 275w" sizes="(max-width: 688px) 100vw, 688px" /></a></figure>
<h3 class="wp-block-heading">Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>)</h3>
<ul>
<li>Dividend Yield: 3.42%</li>
<li>Wells Fargo analyst Larry Biegelsen maintained an Overweight rating and increased the price target from $102 to $105 on May 24. This analyst has an accuracy rate of 71%.</li>
<li>Truist Securities analyst Richard Newitter maintained a Hold rating and cut the price target from $90 to $88 on May 24. This analyst has an accuracy rate of 74%.</li>
<li>Recent News: Medtronic, last week, initiated a recall for some versions of its StealthStation S8 application.</li>
<li>Benzinga Pro's signals feature notified of a potential <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061224&amp;t=be2bearmibe3na1">breakout in Medtronic's shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="665" height="755" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12045827/Screenshot-2024-06-12-at-2.28.22-PM.png" alt="" class="wp-image-383843" style="width:469px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12045827/Screenshot-2024-06-12-at-2.28.22-PM.png 665w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12045827/Screenshot-2024-06-12-at-2.28.22-PM-264x300.png 264w" sizes="(max-width: 665px) 100vw, 665px" /></a></figure>
Check This Out: <a href="https://www.youtube.com/watch?v=pVF0O2lsEH4">How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pr</a>o

Dividends

Pre-Market Outlook

Wall Street's Most Accurate Analysts Spotlight On 3 Health Care Stocks Delivering High-Dividend Yields

The offering is expected to close on June 10, 2024.&nbsp;Royalty Pharma intends to use the net proceeds from the Notes for general corporate purposes.

Offerings

Royalty Pharma Prices Offering Of $1.5B Of Senior Unsecured Notes

UBS analyst Ashwani Verma downgrades Royalty Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) from Buy to Neutral and announces $28 price target.

Downgrades

UBS Downgrades Royalty Pharma to Neutral, Announces $28 Price Target

Tuesday,&nbsp;Agios Pharmaceuticals&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGIO#NASDAQ">AGIO</a>) agreed to&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g39034943/agios-announces-905-million-purchase-agreement-for-vorasidenib-royalty" rel="noreferrer noopener">sell its rights</a>&nbsp;to its 15% royalty on potential U.S. net sales of&nbsp;Servier&#8217;s&nbsp;vorasidenib&nbsp;to&nbsp;Royalty Pharma Plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>).&nbsp;
Under the terms of the agreement, Agios will receive an upfront payment of $905 million upon FDA approval of&nbsp;vorasidenib, and Royalty Pharma will receive the entirety of the 15% royalty on annual U.S. net sales of&nbsp;vorasidenib&nbsp;up to $1 billion and a 12% royalty on annual U.S. net sales greater than $1 billion.&nbsp;
Agios will retain a 3% royalty on annual U.S. net sales over&nbsp;$1 billion.
Vorasidenib is an oral, selective, highly brain-penetrant dual inhibitor of mutant isocitrate dehydrogenase 1 and 2 (IDH1/2) enzymes for IDH-mutant diffuse glioma.&nbsp;
IDH mutant gliomas are&nbsp;the most common adult, malignant primary brain tumors diagnosed in patients younger than 50.
In 2021, Agios&nbsp;completed the&nbsp;<a target="_blank" href="https://investor.agios.com/news-releases/news-release-details/agios-announces-closing-oncology-business-sale-servier" rel="noreferrer noopener">sale</a>&nbsp;of its oncology portfolio – including&nbsp;vorasidenib&nbsp;– to Servier.&nbsp;
As part of that divestiture, Agios is owed a milestone payment of&nbsp;$200 million&nbsp;upon vorasidenib&#8217;s approval by the FDA and a 15% royalty on U.S. net sales of&nbsp;vorasidenib.&nbsp;
Agios continues to retain the right to the approval milestone from Servier.&nbsp;Servier&nbsp;<a target="_blank" href="https://www.globenewswire.com/Tracker?data=WmFHv3fOBetDObvPv98dFcI0TdPQMfkZGZsBOQn2Y9FSHwqIXnjqd6AnfnHshuuGzJh2lan9SMLrrEbFUFRtzebZDHQErRMNYYZRRS7Zc14ddrxKbYh5kqct5tBvkBMM" rel="noreferrer noopener">announced</a>&nbsp;that the FDA has designated&nbsp;a&nbsp;Prescription Drug User Fee Act (PDUFA)&nbsp;action date&nbsp;of August 20.
Earlier this year, Agios Pharmaceuticals said the Phase 3 ENERGIZE study of&nbsp;mitapivat&nbsp;in adults with non-transfusion-dependent (NTD) alpha- or beta-thalassemia achieved its primary&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/01/36468800/why-is-blood-disorder-focused-agios-pharmaceuticals-stock-trading-higher-today" rel="noreferrer noopener">endpoint of hemoglobin response</a>.&nbsp;
Statistical significance was also achieved&nbsp;for both&nbsp;key&nbsp;secondary endpoints associated with a change from baseline in FACIT-Fatigue Score and hemoglobin concentration.
Price Action: AGIO shares are up 20.7% at $38.03 at last check Tuesday.
Photo via Shutterstock

Equities

Asset Sales

AGIO

Why Is Agios Pharmaceuticals Stock Trading Higher On Tuesday?

Royalty Pharma Acquires Interest In Agios Pharmaceuticals' Royalty On Servier's Vorasidenib For $905M In Upfront CashUpon FDA Approval Of Vorasidenib

On Wednesday,&nbsp;Royalty Pharma plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) and&nbsp;Cytokinetics&nbsp;Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYTK#NASDAQ">CYTK</a>) entered into a strategic funding collaboration providing capital to support the commercialization of&nbsp;aficamten&nbsp;and advance the company&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38973055/royalty-pharma-and-cytokinetics-announce-expanded-strategic-funding-collaboration-totaling-up-to-5" rel="noreferrer noopener">expanding cardiovascular pipeline</a>.
The transaction includes funding for planned commercialization, development funding, royalty restructuring, revenue sharing, and the purchase of Cytokinetics equity.&nbsp;
Together, these provide Cytokinetics with $250 million on closing and up to&nbsp;a total of&nbsp;$575 million to support the company&#8217;s further maturation and corporate development.
Cytokinetics also priced a public offering of 9.8 million shares at $51/share, with gross proceeds of&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38977956/cytokinetics-announces-pricing-of-public-offering-of-common-stock" rel="noreferrer noopener">approximately $500 million</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36616494/cytokinetics-heart-drug-is-a-multi-billion-dollar-opportunity-by-2032-despite-novar" rel="noreferrer noopener">Cytokinetics&#8217; Heart Drug Is A Multi-Billion Dollar Opportunity By 2032 Despite Novartis Setback: Analyst</a>.
HC Wainwright&nbsp;writes, &#8220;The transactions send a clear message that all operations at Cytokinetics, led by&nbsp;aficamten, are full speed ahead regardless of any potential business development plans.&#8221;
The analyst notes that&nbsp;there might be increased uncertainty in the stock&nbsp;due to past rumors suggesting&nbsp;that&nbsp;a merger or acquisition was possible.&nbsp;However, despite the potential for acquisition, Cytokinetics remains focused. Recent transactions indicate a strong commitment and focus, which&nbsp;is expected&nbsp;to be positively received by investors.
HC Wainwright analyst writes, &#8220;We believe there may be added volatility with the shares as some may interpret that M&amp;A is now off the table following several prior rumors and speculation.&#8221;
The analyst has updated the price target from $94 to $90,&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/CYTK/analyst-ratings" rel="noreferrer noopener">with a Buy rating</a>.
Needham&nbsp;writes, &#8220;The new funding, and&nbsp;omecamtiv&#8217;s&nbsp;rebirth,&nbsp;will surely disappoint investors&nbsp;who were&nbsp;anticipating a CYTK acquisition.&#8221;
The analyst maintains a Buy rating based on valuation and expectations that&nbsp;aficamten&nbsp;has potential for a differentiated product&nbsp;label,&nbsp;but cut the price target from $108 to $72, reflecting lowered near-term M&amp;A expectations and the lack of major value-driving catalysts until 2025.
Price Action:&nbsp;CYTK shares&nbsp;are&nbsp;down 17.20% at $49.04&nbsp;at the last check&nbsp;on Thursday.

Analyst Color

Financing

CYTK

Heart Disease-Focused Cytokinetics Operations Are On Track Despite Acquisition Uncertainty, Analysts Observe

Cytokinetics And Royalty Pharma Enter Funding Collaboration; Cytokinetics To Receive $50M And Is Eligible To Draw Additional $175M Within 12 Months Of Aficamten Approval, Royalty Will Now Receive 4.5% Up To $5B Of Annual Net Sales Of Aficamten And 1% Above $5B

Royalty Pharma (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rprx#NASDAQ">RPRX</a>) came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $1.60 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 2.08%. A quarter ago, it was expected that this company would post earnings of $1.03 per share when it actually produced earnings of $1.15, delivering a surprise of 11.65%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Royalty Pharma, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $717 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 6.79%. This compares to year-ago revenues of $1.13 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Royalty Pharma shares have lost about 0.4% since the beginning of the year versus the S&amp;P 500&#39;s gain of 8.8%.
What&#39;s Next for Royalty Pharma?
While Royalty Pharma has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Royalty Pharma: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.90 on $647.07 million in revenues for the coming quarter and $3.95 on $2.67 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Atlanticus Holdings Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atlc#NASDAQ">ATLC</a>), has yet to report results for the quarter ended March 2024.
This company is expected to post quarterly earnings of $0.98 per share in its upcoming report, which represents a year-over-year change of -9.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Atlanticus Holdings Corporation&#39;s revenues are expected to be $309.78 million, up 18.7% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2271197/royalty-pharma-rprx-beats-q1-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2271197">To read this article on Zacks.com click here.</a>

Earnings Beats

Small Cap

ATLC

Royalty Pharma Beats Q1 Earnings and Revenue Estimates

Under the terms of ImmuNext&#39;s licensing agreement with Sanofi, ImmuNext is entitled to receive an upward tiering net royalty ranging from a high-single digit to low-double digit percentage of worldwide net sales of frexalimab. As a result of today&#39;s announced transaction, Royalty Pharma will receive&nbsp;100%&nbsp;of net royalties on annual worldwide net sales of frexalimab of up to&nbsp;$2.0 billion&nbsp;and share a minority of the royalties above this threshold with ImmuNext shareholders.
In addition, the acquisition will include substantial potential milestone payments from Sanofi.&nbsp;Royalty Pharma estimates frexalimab, if approved, will generate royalties through 2041.
Frexalimab, in development by Sanofi, is a first-in-class, second generation anti-CD40 ligand monoclonal antibody.&nbsp;

Royalty Pharma To Acquire Royalties And Milestones On Frexalimab Owned By ImmuNext For ~$525M In Cash Including Estimated Transaction Costs

Royalty Pharma Sees FY24 Portfolio Receipts Of $2.6B - $2.7B

Royalty Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) reported quarterly sales of $568.00 million which missed the analyst consensus estimate of $663.22 million by 14.36 percent. This is a 16.96 percent decrease over sales of $684.00 million the same period last year.

Royalty Pharma Q1 Sales $568.00M Miss $663.22M Estimate

Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q2 2024 Update

Biotech companies could gain the financial flexibility to accelerate their innovations with the Fed's recent rate cut. To capitalize on this opportunity, consider investing in fundamentally sound biotech stocks Biogen (BIIB), Royalty Pharma (RPRX), and BioMarin Pharmaceutical (BMRN), that are poised to skyrocket. Learn more... The biotech industry is experiencing significant growth as it continues to innovate in medicine and life sciences. With rising demand for therapeutics and new treatments targeting several complex diseases such as cancer, Alzheimer's, and rare genetic disorders, the sector is buzzing with potential.
Amid this backdrop, investors looking to gain from this momentum could scoop up the shares of fundamentally sound biotech companies like Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>), BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>), and Royalty Pharma plc (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>) with promising upside potential.
Analysts believe the Federal Reserve's recent rate cuts could further boost the biotech sector. John Maraganore, former CEO of Alnylam Pharmaceuticals, emphasized that the cut "will be very positive for the biotech capital markets," predicting a meaningful uptick in the sector as rates decline. Lower rates mean reduced borrowing costs, allowing biotech firms to raise more capital for their research and development (R&amp;D) projects, potentially accelerating their breakthroughs.
Moreover, the global biotechnology market is anticipated to reach <a href="https://www.precedenceresearch.com/biotechnology-market#:~:text=The%20global%20biotechnology%20market%20size%20accounted%20for%20USD%201.55%20trillion%20in%202024%20and%20is%20expected%20to%20reach%20around%20USD%204.61%20trillion%20by%202034%2C%20expanding%20at%20a%20CAGR%20of%2011.5%25%20from%202024%20to%202034.">$4.61 trillion by 2034</a>, growing at a CAGR of 11.5%. With a focus on next-generation therapies such as gene editing, immunotherapy, and biologics, biotech companies are at the forefront of medical innovation, creating a favorable environment for breakthroughs in life-saving treatments.
With that in mind, let's evaluate the fundamentals of the featured <a href="https://stocknews.com/category/biotech/">Biotech</a> industry stocks, starting with number three:
Stock #3: Royalty Pharma plc (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>)
RPRX operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry. The company's portfolio consists of royalties on nearly 35 commercial products and 14 development-stage product candidates that address therapeutic areas like diabetes, cancer, neuroscience, immunology, respiratory, and hematology.
On September 3, RPRX and Ascendis Pharma Bone Diseases A/S, a wholly-owned subsidiary of Ascendis Pharma A/S (<a href="https://stocknews.com/stock/ASND/">ASND</a>), entered into a royalty funding agreement of $150 million based on U.S. net sales of Yorvipath. This transaction supports the continued development and commercialization of Endocrine Rare Disease products.
On May 28, RPRX announced its acquisition of Agios Pharmaceuticals' royalty on Servier's vorasidenib for $905 million cash. The vorasidenib would be the first targeted therapy for patients with IDH-mutant glioma if approved by the U.S. Food and Drug Administration (FDA).
RPRX for the second quarter (ended June 30, 2024) reported portfolio receipts of $608 million, indicating an 11.6% growth from the prior year quarter. Its operating income increased 8.4% year-over-year to $270 million. In addition, its adjusted EBITDA grew 12.4% from the prior year's quarter to $560 million.
The company's net income and <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> attributable stood at $102 million and $0.23, respectively. Also, the non-GAAP portfolio cash flow came in at $574 million, up 11.2% year-over-year.
The company has updated its fiscal year 2024 financial outlook, increasing its revenue projection to a range of $2.70 billion to $2.78 billion, up from the previous estimate of $2.60 billion to $2.70 billion.
Analysts expect RPRX's revenue for the third quarter (ending September 2024) to grow 39.6% year-over-year to $748.66 million, while its EPS for the same period is expected to increase 16.7% from the prior year to $0.92.
Shares of RPRX have surged 5.2% over the past year to close the last trading session at $27.71. The 12-month median price target of $46.33 indicates <a href="https://www.tipranks.com/stocks/rprx/forecast">a 67.3% upside potential</a> from the last closing price. The price targets range from a low of $38 to a high of $51.
RPRX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
RPRX has a B grade for Growth and Sentiment. It is ranked #33 out of 335 stocks in the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry. <a href="https://stocknews.com/stock/RPRX/">Click here</a> to see the additional ratings for RPRX (Value, Momentum, Stability, and Quality).
Stock #2: BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>)
BMRN develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. The company is a biotechnology company addressing the root cause of genetic conditions.
On July 24, BMRN announced that the U.S. FDA approved BRINEURA (cerliponase alfa) for children under three years with neuronal ceroid lipofuscinosis type 2 (CLN2 disease). The approval expands the treatment to all ages, including presymptomatic children, to slow the loss of ambulation.
In the fiscal second quarter that ended on June 30, 2024, BMRN's total revenue increased 19.6% year-over-year to $712.03 million. The company reported non-GAAP income from operations of $221.80 million, indicating 71.7% growth from the prior-year quarter. BMRN's non-GAAP net income came in at $188.90 million, up 79.6% year-over-year, while its non-GAAP EPS grew 77.8% from the year-ago value to $0.96.
According to the updated financial guidance for fiscal year 2024, the company's revenue is now projected to be between $2.75 billion and $2.83 billion, with non-GAAP operating margin anticipated to fall between 26% and 27%. Its non-GAAP EPS is expected to range from $3.10 to $3.25.
The consensus revenue estimate of $703.13 million for the fiscal third quarter (ending September 2024) represents a 20.9% increase year-over-year. The consensus EPS estimate of $0.80 for the same quarter indicates a 73.3% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus EPS estimates in three of the trailing four quarters.
The stock has surged marginally intraday to close the last trading session at $69.48. Its 12-month <a href="https://www.tipranks.com/stocks/bmrn/forecast">price target of $105.52</a> reflects a 51.9% potential upside. The price targets range from a low of $72 to a high of $132.
It's no surprise that BMRN has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Growth and a B for Value and Sentiment. Out of 335 stocks in the same industry, BMRN is ranked #14.
Beyond what is stated above, we've also rated BMRN for Momentum, Stability, and Quality. Get all BMRN ratings <a href="https://stocknews.com/stock/BMRN/">here</a>.
Stock #1: Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>)
BIIB is a global biopharmaceutical company focused on discovering, developing, and delivering advanced therapies worldwide for people with serious and complex diseases. The company has a portfolio of medicines to treat multiple sclerosis (MS), spinal muscular atrophy (SMA), Alzheimer's disease, and amyotrophic lateral sclerosis (ALS). 
On August 22, BIIB and Eisai Co., Ltd. announced that the Medicines and Healthcare Products Regulatory Agency (MHRA) in Great Britain granted marketing authorization to its Leqembi&#xAE;, the humanized amyloid-beta (Aβ) monoclonal antibody.
On July 30, BIIB, Beckman Coulter, Inc., and Fujirebio announced a collaboration to potentially identify and develop accessible, minimally invasive blood-based biomarkers specific for tau-pathology in the brain. These tools have the potential to be used to stratify patients or monitor treatment response for a new generation of future therapies impacting tau pathology in Alzheimer's disease.
For the second quarter of 2024, which ended on June 30, BIIB's total revenues increased marginally year-over-year to $2.46 billion. Its non-GAAP total net income attributable for the quarter amounted to $770.90 million or $5.28 per share, representing increases of 31.9% and 31.3%, respectively, from the same period last year.
Per the updated financial guidance for the fiscal year 2024, BIIB now forecasts non-GAAP EPS between $15.75 and $16.25, up from the previous estimate of $15 and $16.
Street expects BIIB's revenue for the fiscal fourth quarter (ending December 2024) to increase 2.4% year-over-year to $2.44 billion. Its EPS for the same period is expected to register a 14.7% growth from the prior year, settling at $3.38. In addition, it surpassed the EPS estimates in three of the trailing four quarters, which is promising.
BIIB's stock has declined 0.9% intraday to close the last trading session at $194.12. Its 12-month price target of $274.84 indicates <a href="https://www.tipranks.com/stocks/biib/forecast">a 41.6% potential upside</a>. The price targets range from a low of $190 to a high of $342.
BIIB's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has an A grade for Value and a B for Growth. Within the Biotech industry, it is ranked #8. <a href="https://stocknews.com/stock/BIIB/">Click here</a> to see BIIB's ratings for Momentum, Stability, Sentiment, and Quality.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
BIIB shares were trading at $190.22 per share on Wednesday afternoon, down $3.90 (-2.01%). Year-to-date, BIIB has declined -26.49%, versus a 21.09% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/biib-rprx-bmrn-asnd-3-biotech-stocks-wall-street-predicts-will-skyrocket/>3 Biotech Stocks Wall Street Predicts Will Skyrocket</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Biotech Stocks Wall Street Predicts Will Skyrocket

Bristol-Myers wins FDA nod for first-of-its-kind antipsychotic (update)

Royalty Pharma ( ($RPRX) ) has shared an update. Bristol Myers Squibb has gained FDA approval for KarXT, a new schizophrenia treatment for adults, ...

Royalty Pharma Strikes Deal on FDA-Approved Schizophrenia Drug

Biotech companies could gain the financial flexibility to accelerate their innovations with the Fed's recent rate cut. To capitalize on this opportunity, consider investing in fundamentally sound biotech stocks Biogen (BIIB), Royalty Pharma (RPRX), and BioMarin Pharmaceutical (BMRN), that are poised to skyrocket. Learn more... The biotech industry is experiencing significant growth as it continues to innovate in medicine and life sciences. With rising demand for therapeutics and new treatments targeting several complex diseases such as cancer, Alzheimer's, and rare genetic disorders, the sector is buzzing with potential.
Amid this backdrop, investors looking to gain from this momentum could scoop up the shares of fundamentally sound biotech companies like Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>), BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>), and Royalty Pharma plc (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>) with promising upside potential.
Analysts believe the Federal Reserve's recent rate cuts could further boost the biotech sector. John Maraganore, former CEO of Alnylam Pharmaceuticals, emphasized that the cut "will be very positive for the biotech capital markets," predicting a meaningful uptick in the sector as rates decline. Lower rates mean reduced borrowing costs, allowing biotech firms to raise more capital for their research and development (R&amp;D) projects, potentially accelerating their breakthroughs.
Moreover, the global biotechnology market is anticipated to reach <a href="https://www.precedenceresearch.com/biotechnology-market#:~:text=The%20global%20biotechnology%20market%20size%20accounted%20for%20USD%201.55%20trillion%20in%202024%20and%20is%20expected%20to%20reach%20around%20USD%204.61%20trillion%20by%202034%2C%20expanding%20at%20a%20CAGR%20of%2011.5%25%20from%202024%20to%202034.">$4.61 trillion by 2034</a>, growing at a CAGR of 11.5%. With a focus on next-generation therapies such as gene editing, immunotherapy, and biologics, biotech companies are at the forefront of medical innovation, creating a favorable environment for breakthroughs in life-saving treatments.
With that in mind, let's evaluate the fundamentals of the featured <a href="https://stocknews.com/category/biotech/">Biotech</a> industry stocks, starting with number three:
Stock #3: Royalty Pharma plc (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>)
RPRX operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry. The company's portfolio consists of royalties on nearly 35 commercial products and 14 development-stage product candidates that address therapeutic areas like diabetes, cancer, neuroscience, immunology, respiratory, and hematology.
On September 3, RPRX and Ascendis Pharma Bone Diseases A/S, a wholly-owned subsidiary of Ascendis Pharma A/S (<a href="https://stocknews.com/stock/ASND/">ASND</a>), entered into a royalty funding agreement of $150 million based on U.S. net sales of Yorvipath. This transaction supports the continued development and commercialization of Endocrine Rare Disease products.
On May 28, RPRX announced its acquisition of Agios Pharmaceuticals' royalty on Servier's vorasidenib for $905 million cash. The vorasidenib would be the first targeted therapy for patients with IDH-mutant glioma if approved by the U.S. Food and Drug Administration (FDA).
RPRX for the second quarter (ended June 30, 2024) reported portfolio receipts of $608 million, indicating an 11.6% growth from the prior year quarter. Its operating income increased 8.4% year-over-year to $270 million. In addition, its adjusted EBITDA grew 12.4% from the prior year's quarter to $560 million.
The company's net income and <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> attributable stood at $102 million and $0.23, respectively. Also, the non-GAAP portfolio cash flow came in at $574 million, up 11.2% year-over-year.
The company has updated its fiscal year 2024 financial outlook, increasing its revenue projection to a range of $2.70 billion to $2.78 billion, up from the previous estimate of $2.60 billion to $2.70 billion.
Analysts expect RPRX's revenue for the third quarter (ending September 2024) to grow 39.6% year-over-year to $748.66 million, while its EPS for the same period is expected to increase 16.7% from the prior year to $0.92.
Shares of RPRX have surged 5.2% over the past year to close the last trading session at $27.71. The 12-month median price target of $46.33 indicates <a href="https://www.tipranks.com/stocks/rprx/forecast">a 67.3% upside potential</a> from the last closing price. The price targets range from a low of $38 to a high of $51.
RPRX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
RPRX has a B grade for Growth and Sentiment. It is ranked #33 out of 335 stocks in the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry. <a href="https://stocknews.com/stock/RPRX/">Click here</a> to see the additional ratings for RPRX (Value, Momentum, Stability, and Quality).
Stock #2: BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>)
BMRN develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. The company is a biotechnology company addressing the root cause of genetic conditions.
On July 24, BMRN announced that the U.S. FDA approved BRINEURA (cerliponase alfa) for children under three years with neuronal ceroid lipofuscinosis type 2 (CLN2 disease). The approval expands the treatment to all ages, including presymptomatic children, to slow the loss of ambulation.
In the fiscal second quarter that ended on June 30, 2024, BMRN's total revenue increased 19.6% year-over-year to $712.03 million. The company reported non-GAAP income from operations of $221.80 million, indicating 71.7% growth from the prior-year quarter. BMRN's non-GAAP net income came in at $188.90 million, up 79.6% year-over-year, while its non-GAAP EPS grew 77.8% from the year-ago value to $0.96.
According to the updated financial guidance for fiscal year 2024, the company's revenue is now projected to be between $2.75 billion and $2.83 billion, with non-GAAP operating margin anticipated to fall between 26% and 27%. Its non-GAAP EPS is expected to range from $3.10 to $3.25.
The consensus revenue estimate of $703.13 million for the fiscal third quarter (ending September 2024) represents a 20.9% increase year-over-year. The consensus EPS estimate of $0.80 for the same quarter indicates a 73.3% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus EPS estimates in three of the trailing four quarters.
The stock has surged marginally intraday to close the last trading session at $69.48. Its 12-month <a href="https://www.tipranks.com/stocks/bmrn/forecast">price target of $105.52</a> reflects a 51.9% potential upside. The price targets range from a low of $72 to a high of $132.
It's no surprise that BMRN has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Growth and a B for Value and Sentiment. Out of 335 stocks in the same industry, BMRN is ranked #14.
Beyond what is stated above, we've also rated BMRN for Momentum, Stability, and Quality. Get all BMRN ratings <a href="https://stocknews.com/stock/BMRN/">here</a>.
Stock #1: Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>)
BIIB is a global biopharmaceutical company focused on discovering, developing, and delivering advanced therapies worldwide for people with serious and complex diseases. The company has a portfolio of medicines to treat multiple sclerosis (MS), spinal muscular atrophy (SMA), Alzheimer's disease, and amyotrophic lateral sclerosis (ALS). 
On August 22, BIIB and Eisai Co., Ltd. announced that the Medicines and Healthcare Products Regulatory Agency (MHRA) in Great Britain granted marketing authorization to its Leqembi&#xAE;, the humanized amyloid-beta (Aβ) monoclonal antibody.
On July 30, BIIB, Beckman Coulter, Inc., and Fujirebio announced a collaboration to potentially identify and develop accessible, minimally invasive blood-based biomarkers specific for tau-pathology in the brain. These tools have the potential to be used to stratify patients or monitor treatment response for a new generation of future therapies impacting tau pathology in Alzheimer's disease.
For the second quarter of 2024, which ended on June 30, BIIB's total revenues increased marginally year-over-year to $2.46 billion. Its non-GAAP total net income attributable for the quarter amounted to $770.90 million or $5.28 per share, representing increases of 31.9% and 31.3%, respectively, from the same period last year.
Per the updated financial guidance for the fiscal year 2024, BIIB now forecasts non-GAAP EPS between $15.75 and $16.25, up from the previous estimate of $15 and $16.
Street expects BIIB's revenue for the fiscal fourth quarter (ending December 2024) to increase 2.4% year-over-year to $2.44 billion. Its EPS for the same period is expected to register a 14.7% growth from the prior year, settling at $3.38. In addition, it surpassed the EPS estimates in three of the trailing four quarters, which is promising.
BIIB's stock has declined 0.9% intraday to close the last trading session at $194.12. Its 12-month price target of $274.84 indicates <a href="https://www.tipranks.com/stocks/biib/forecast">a 41.6% potential upside</a>. The price targets range from a low of $190 to a high of $342.
BIIB's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has an A grade for Value and a B for Growth. Within the Biotech industry, it is ranked #8. <a href="https://stocknews.com/stock/BIIB/">Click here</a> to see BIIB's ratings for Momentum, Stability, Sentiment, and Quality.
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BIIB shares were trading at $190.22 per share on Wednesday afternoon, down $3.90 (-2.01%). Year-to-date, BIIB has declined -26.49%, versus a 21.09% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/biib-rprx-bmrn-asnd-3-biotech-stocks-wall-street-predicts-will-skyrocket/>3 Biotech Stocks Wall Street Predicts Will Skyrocket</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

The biotech sector's long-term growth is fueled by strong government support, increasing funding and M&A activities, and rapid AI adoption. Therefore, quality biotech stocks Royalty Pharma (RPRX), BioMarin Pharmaceutical (BMRN), and Biogen (BIIB) with major upside could be ideal additions to your portfolio. Keep reading... The scope and scale of the biotech industry are ever-expanding. Also, the growing integration of cutting-edge technology with biotechnology to accelerate innovation and drug candidate identification is creating new avenues for emerging and innovative biotech companies.
Given the industry's positive prospects, it could be ideal to invest in quality biotech stocks Royalty Pharma PLC (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>), BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>), and Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>) with huge upside based on analyst price targets.
In the recent past, the biotech industry has performed above expectations with innovations, <a href="https://www.marketsandmarkets.com/blog/HC/The-Global-Biotechnology-Industry-Outlook-2024">the introduction of new technologies</a>, demand for personalized medicines, and approvals like the first CRISPR gene therapy. Also, growing efforts to introduce novel cell and gene therapies to revolutionize patient lives are reshaping the landscape.
Also, factors like increasing funding, supportive government initiatives, growing industry partnerships and M&amp;A activities, and emerging market stabilization are fueling the <a href="https://www.mantellassociates.com/increase-in-biotech-funding-2023-to-2024/">biotech industry's outlook</a>.
The global biotechnology market size is projected to hit around $4.61 trillion by 2034, exhibiting growth at a <a href="https://www.precedenceresearch.com/biotechnology-market#:~:text=The%20global%20biotechnology%20market%20size%20accounted%20for%20USD%201.55%20trillion,USD%20521.02%20billion%20in%202023.">CAGR of 11.5%</a>. Also, the U.S. biotechnology market is expected to grow to $830.31 billion by 2034 at a CAGR of 11.6%.
Furthermore, <a href="https://www.pharmiweb.com/press-release/2024-04-15/generative-ai-in-biotech-market-to-skyrocket-to-usd-472-million-by-2032-marketresearchbiz#:~:text=Generative%20AI%20in%20Biotech%20utilizes,innovation%20and%20drug%20candidate%20identification.">Generative AI in Biotech</a> is paving new directions. The technology utilizes AI algorithms to design novel molecules, proteins, and drugs, revolutionizing drug discovery and development processes. Generative AI in the biotech market is expected to be worth $472 million by 2032, expanding at a notable CAGR of 24.9% during the forecast period.
Given the industry's bright prospects, let's delve into the fundamentals of the three best <a href="https://stocknews.com/category/biotech/">Biotech</a> stock picks, starting with the third choice.
Stock #3: Royalty Pharma plc (<a href="https://stocknews.com/stock/RPRX/">RPRX</a>)
RPRX operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry. The company is also engaged in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies.
On September 3, RPRX and Ascendis Pharma Bone Diseases A/S, a wholly-owned subsidiary of Ascendis Pharma A/S, entered into a royalty funding agreement worth $150 million based on U.S. net sales of Yorvipath. The agreement expands the companies' partnership aimed at supporting the continued development and commercialization of Endocrine Rare Disease products.
RPRX reported total income and other revenues of $537 million for the second quarter ended June 30, 2024, and its operating income increased 8.4% year-over-year to $270 million. Its adjusted <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> of $560 million indicates growth of 12.4% from the prior-year quarter.
Furthermore, net income attributable to RPRX stood at $102 million for the quarter. And its non-GAAP portfolio cash flow rose 11.2% year-over-year to $574 million.
The company updated its fiscal year 2024 financial outlook. RPRX raised its revenue projection to a range of $2.70 billion to $2.78 billion, up from the previous estimate of $2.60 billion to $2.70 billion.
Street expects RPRX's revenue for the third quarter (ended September 2024) to increase 39.6% year-over-year to $748.66 million, and its EPS is expected to grow 17.1% year-over-year to $0.92 for the same quarter.
Shares of RPRX have surged 2.2% over the past year to close the last trading session at $27.36. Wall Street analysts expect the stock to hit $45.25 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/rprx/forecast">upside of 63.77%</a>.
RPRX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
RPRX has a B grade for Sentiment and Growth. It is ranked #31 out of 331 stocks in the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry.
In addition to the POWR Ratings we've stated above, we also have RPRX's other ratings for Value, Momentum, Stability, and Quality. Get all RPRX ratings <a href="https://stocknews.com/stock/RPRX/">here</a>.
Stock #2: BioMarin Pharmaceutical Inc. (<a href="https://stocknews.com/stock/BMRN/">BMRN</a>)
BMRN develops and commercializes therapies for people with severe and life-threatening rare diseases and medical conditions. The company's commercial products include Vimizim, Naglazyme, and Kuvan.
On July 24, BMRN received the U.S. FDA approval for its BRINEURA (cerliponase alfa) to slow the loss of ambulation in children under three years with neuronal ceroid lipofuscinosis type 2 (CLN2 disease). The approval extended the treatment to all ages, including presymptomatic children.
During the second quarter that ended on June 30, 2024, BMRN's total revenue increased 19.6% year-over-year to $712.03 million. Its non-GAAP income from operations grew 71.7% from the year-ago value to $221.80 million. The company's non-GAAP net income and EPS came in at $188.90 million and $0.96, up 79.6% and 77.8% from the prior year's quarter, respectively.
As per the updated financial guidance for the fiscal year 2024, BMRN's revenue is projected to be between $2.75 billion and $2.83 billion. The company's non-GAAP EPS is expected to range from $3.10 to $3.25.
Analysts expect BMRN's revenue for the third quarter (ended September 2024) to increase 21% year-over-year to $703.31 million. For the same period, the company's EPS is expected to grow 73.3% year-over-year to $0.80. Furthermore, it has surpassed the consensus EPS estimates in three of the trailing four quarters.
Shares of BMRN have declined 18.4% over the past month to close the last trading session at $68.69. Also, Wall Street analysts expect the stock to hit $105.95 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/bmrn/forecast">upside of 52.45%</a>.
BMRN's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has an A grade for Growth. The stock also has a B grade for Sentiment and Value. BMRN is ranked #16 out of 331 stocks in the same industry.
<a href="https://stocknews.com/stock/BMRN/">Click here</a> to access additional ratings of BMRN for Momentum, Quality, and Stability.
Stock #1: Biogen Inc. (<a href="https://stocknews.com/stock/BIIB/">BIIB</a>)
BIIB discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases internationally. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS).
On September 20, BIIB and Samsung Bioepis Co., Ltd. received positive EMA Committee for Medicinal Products for Human Use (CHMP) opinion for its OPUVIZ&#x2122; 40 mg/mL solution for injection in a vial, a biosimilar referencing Eylea2 (aflibercept), also known as SB15.
OPUVIZ has been recommended for approval in adult patients for treating neovascular (wet) age-related macular degeneration (AMD). Post the recommendation, OPUVIZ can serve as a meaningful therapeutic option for individuals impacted by retinal vascular disorders.
On July 30, BIIB, Beckman Coulter, Inc., and Fujirebio announced a collaboration to potentially identify and develop blood-based biomarkers for tau pathology in the brain and to potentially clinically advance and potentially commercialize new tests for tau pathology in Alzheimer's disease (AD).
For the second quarter of 2024, which ended June 30, 2024, BIIB's total revenues increased marginally year-over-year to $2.46 billion. Non-GAAP total net income attributable to BIIB and non-GAAP EPS totaled $770.90 million and $5.28, reflecting increases of 31.9% and 31.3% from the prior year's quarter, respectively.
Furthermore, the company's free cash flow increased 42.4% from the year-ago value to $592.30 million.
The company updated its financial guidance for the fiscal year 2024. BIIB now forecasts non-GAAP EPS between $15.75 and $16.25, up from the previous $15 and $16 range.
Street expects BIIB's revenue and EPS for the fourth quarter (ending December 2024) to increase 2.5% and 15.4% year-over-year to $2.45 billion and $3.40, respectively. Furthermore, the company surpassed the consensus EPS estimates in three of the four trailing quarters.
Over the past month, BIIB's stock has plunged 8.6% to close the last trading session at $182.30. Wall Street analysts expect the stock to hit $268.55 in the near term, indicating a <a href="https://www.tipranks.com/stocks/biib/forecast">45.61% upside potential</a>.
BIIB's strong fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
BIIB has an A grade for Value and a B grade for Sentiment and Growth. It is ranked #6 among the list of 331 stocks in the Biotech industry.
To access BIIB's ratings for Quality, Stability, and Momentum, <a href="https://stocknews.com/stock/BIIB/">click here</a>.
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<hr />
BIIB shares were unchanged in after-hours trading Wednesday. Year-to-date, BIIB has declined -28.21%, versus a 22.57% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/biib-rprx-bmrn-3-biotech-stocks-with-huge-upside-based-on-analyst-price/>3 Biotech Stocks With Huge Upside Based on Analyst Price Targets</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Biotech Stocks With Huge Upside Based on Analyst Price Targets

Royalty Pharma declares $0.21 dividend

In a report released today, Terence Flynn from Morgan Stanley maintained a Buy rating on Royalty Pharma (RPRX – Research Report), with a price targ...

Morgan Stanley Sticks to Their Buy Rating for Royalty Pharma (RPRX)

Vertex Pharmaceuticals: The Future Looks Bright, But It May Be A Choppy Ride

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Press Releases

Royalty Pharma to Present at the Goldman Sachs 45th Annual Global Healthcare Conference

Royalty Pharma Declares Third Quarter 2024 Dividend

Royalty Pharma to Announce Second Quarter 2024 Financial Results on August 8, 2024

Management

Royalty Pharma Appoints Molly Sawaya as Executive Vice President, Head of Human Capital

Royalty Pharma Reports Second Quarter 2024 Results

Royalty Pharma to Present at Morgan Stanley's 22nd Annual Global Healthcare Conference

Ascendis Pharma and Royalty Pharma Enter into $150 Million Royalty Funding Agreement

Royalty Pharma and Ascendis Pharma Enter Into $150 Million Royalty Funding Agreement

Royalty Pharma Declares Fourth Quarter 2024 Dividend

Royalty Pharma to Announce Third Quarter 2024 Financial Results on November 6, 2024

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