Stock Track | Royalty Pharma Shares Jump 6% After Mixed Q3 Earnings

Stock Track11-06

Shares of Royalty Pharma plc (NASDAQ: RPRX) surged 6.39% on Monday after the biopharmaceutical company reported mixed results for the third quarter of fiscal 2024.

The company reported adjusted earnings per share of $1.04, beating Wall Street's expectations of $0.93. However, revenue for the quarter came in at $565 million, falling short of analysts' estimates of $696.1 million. Despite the revenue miss, Royalty Pharma's sales grew by 5.41% compared to the same period last year.

Looking ahead, Royalty Pharma expects its full-year 2024 portfolio receipts to range between $2.75 billion and $2.8 billion. This guidance reflects the company's confidence in its diversified portfolio of royalty interests in various pharmaceutical products.

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