TD Cowen Raises Royalty Pharma PT to $50; Goldman Sachs Sees $51
TD Cowen raised Royalty Pharma’s price target to $50 from $45 on February 27, citing portfolio diversification and growth in the biopharma royalty market. Goldman Sachs lifted its target to $51 from $45 after fiscal Q4 results exceeded guidance, forecasting 3%-8% year-over-year royalty receipt growth.
1. TD Cowen Upgrade
On February 27, TD Cowen raised its price target on Royalty Pharma Plc to $50 from $45, reiterating a Buy rating. The firm highlighted portfolio diversification, differentiation from competitors and expansion of the biopharma royalty market as key drivers for the revision.
2. Goldman Sachs Boost
On February 12, Goldman Sachs lifted its price target to $51 from $45 after fiscal Q4 results surpassed its model. Portfolio receipts and 2026 guidance implied 3%-8% year-over-year growth in royalty receipts, reinforcing expectations for medium-term performance.
3. Business Model and Outlook
Royalty Pharma funds biopharmaceutical innovation by acquiring and co-funding royalties on late-stage trials and product launches. With over $3.5 billion of financial capacity, the company targets long-term top-line growth of 10%+ supported by synthetic royalties, active capital deployment and commercial momentum.