RPRX Stock Price: Royalty Pharma set to top $50, heading for double its IPO price
|- RPRX is trading above $50 in pre-market trading ahead of its fourth trading day on the market.
- Royalty Pharma enjoyed the second-largest pharma IPO ever.
- Pharmaceutical firms are experiencing high demand around the coronavirus crisis.
After raising funds at the top of the range, is RPRX heading toward a quick doubling of its value? Royalty Pharma RPRX.O grabbed the headlines by raising over $2 billion in its Initial Public Offering (IPO) and continued rising.
Those who were able to grab stocks of Repros Therapeutics Inc paid $28. Shares are heading toward doubling that price or at least approaching it quickly, with a price of over $54 in pre-market trading, up nearly 12%, exceeding its increase recorded on Wednesday.
Royalty Pharma Stock
RPRX previously represented Repros Therapeutics inc – a company bought by Allergan in 2017. That could also be supportive of the shares.
Yet, more importantly, shares of Royalty Pharma are also benefiting from the growing interest in pharmaceutical firms amid the coronavirus crisis. Moreover, the Federal Reserve is buying government bonds and also corporate debt at a robust pace, providing liquidity that makes its way to equity markets as well.
The firm strives to transform the funding of life sciences – including drug discovery – by deploying collaborative capital. IT works directly with innovators of all times and sizes, and its economic model is using royalties rather than traditional methods. Royalty Pharma is based in New York, outside the hub for bio firms but rather in the financial capital of the world.
Pablo Legorreta, a billionaire, is behind the company. During the company's more than 20 years, it back successful medications such as Humira, Lyrica, and Imbruvica.
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