Morgan Stanley analyst Terence Flynn raised the firm’s price target on Royalty Pharma (RPRX) to $51 from $48 and keeps an Overweight rating on the shares. The firm updated its model for latest consensus estimates and tweaked expenses, noting that it added vorasidenib to its model post the royalty agreement with Agios (AGIO) and increased Evrysdi royalty ownership to 90.5% from 81% after PTC Therapeutics (PTCT) exercised an option to sell half of its retained royalties.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RPRX:
- Royalty Pharma to Present at the Goldman Sachs 45th Annual Global Healthcare Conference
- Royalty Pharma Announces Pricing of $1.5 Billion of Senior Unsecured Notes
- Agios Pharmaceuticals price target raised to $53 from $44 at RBC Capital
- Royalty Pharma downgraded to Neutral from Buy at UBS
- Biotech Alert: Searches spiking for these stocks today