Royalty Pharma PLC Class A
RPRX: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$34.00 | Tntnyb | Jspllhvwq |
Royalty Pharma Earnings: Expansion of Development Stage Pipeline Reinforces Growth Prospects
Narrow-moat Royalty Pharma’s first-quarter results were in line with our expectations. We are leaving our $52 fair value estimate unchanged and continue to believe the market is undervaluing Royalty Pharma’s high-quality drug portfolio. With the recent addition of frexalimab (for relapsing multiple sclerosis), the company’s development-stage product pipeline looks increasingly attractive to us, which should support a high-single-digit annualized growth rate for its portfolio receipts over the next decade.