Analyst Consensus ?
ConsensusBuy11 ratings
Bullish11100.0%
Neutral00.0%
Bearish00.0%
Royalty Pharma plc · RPRX · FY2026 Q2 · Calendar Q3 2026
Royalty Pharma raises 2026 outlook as recurring receipts grow
The quarter strengthens the case that Royalty Pharma can grow through recurring royalty receipts and selective acquisitions: recurring receipts advanced, management raised 2026 guidance, and the development-stage portfolio expanded. The thesis remains dependent on pipeline execution, regulatory outcomes, and the durability of receipts as products face competition or loss of exclusivity.
Why did RPRX rise 0.5% after beating EPS estimates in FY2026 Q2?
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Reported Before market openNASDAQHealthcare
$30.08B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.32
Consensus $1.27
EPS surprise
+3.9%
Reported versus consensus
Reported revenue
$773.0M
Consensus $758.9M
Revenue surprise
+1.9%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.5%
Event window
SPY move
-0.2%
Same window
Abnormal move
+0.7%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
+9.3%
Up to 20 sessions
RPRXSPY benchmark
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Why did RPRX rise 0.5% after beating EPS estimates in FY2026 Q2?What changed in RPRX's guidance and outlook in FY2026 Q2?Give me the bull and bear case for RPRX after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Compared with Q1, management reported stronger detail on recurring royalty momentum: Q2 portfolio receipts rose 6% to $773 million and recurring royalty receipts grew 14%. It raised full-year 2026 guidance to $3.4–$3.5 billion, announced a cliramitug royalty acquisition, and said the development-stage pipeline had grown to 19 assets. The quarter’s reported revenue was $773 million versus a $758.9 million estimate; reported EPS was $1.32 versus a $1.27 estimate.
Guidance delta
Management raised full-year 2026 guidance to $3.4–$3.5 billion, citing stronger momentum. The supplied analysis does not state the prior guidance range, so the size of the increase is not quantified here.
Key takeaways
- Q2 portfolio receipts increased 6% to $773 million; recurring royalty receipts increased 14% year over year.
- Full-year 2026 guidance was raised to $3.4–$3.5 billion.
- Royalty acquisitions included AstraZeneca's cliramitug; the development-stage pipeline expanded to 19 assets.
- Management cited 14.2% ROIC and 20.1% ROE over the past 12 months.
Management priorities
- Pursue further royalty acquisitions, including potential synthetic royalty deals.
- Track pipeline readouts through 2027 and support commercialization of portfolio assets.
- Expand China presence with dedicated leadership while managing related regulatory and policy risks.
- Maintain disciplined capital allocation and shareholder returns; track the long-term $4.7 billion portfolio-receipts goal for 2030.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$67.56Current
$45Low
$57Average
$67High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 5, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 7, 2026 |
| TD Cowen | Buy | Buy | Maintain | Sep 8, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 7, 2026 |
| Citigroup | Buy | Buy | Maintain | May 7, 2026 |
| UBS | Buy | Buy | Maintain | Apr 21, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Aug 14, 2024 |
| B of A Securities | Buy | Buy | Maintain | Apr 12, 2024 |
| Tigress Financial | Buy | Buy | Maintain | Apr 6, 2023 |
| Scotiabank | Outperform | Outperform | Maintain | Sep 13, 2022 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jul 13, 2020 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jul 13, 2020 |
Named analyst price targets
Upside is calculated against the persisted current price $67.56. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $67 | $56.93 | -0.8% | Oct 7, 2026 |
| Goldman Sachs | Analyst unavailable | $66 | $57.02 | -2.3% | Aug 6, 2026 |
| Morgan Stanley | Analyst unavailable | $65 | $57.75 | -3.8% | Aug 6, 2026 |
| UBS | Ashwani Verma | $57 | $49.3 | -15.6% | Apr 21, 2026 |
| Morgan Stanley | Terence Flynn | $63 | $47.98 | -6.7% | Apr 10, 2026 |
| Seaport Global | Analyst unavailable | $50 | $46.21 | -26.0% | Feb 27, 2026 |
| Morgan Stanley | Terence Flynn | $61 | $44.71 | -9.7% | Feb 12, 2026 |
| UBS | Ashwani Verma | $49 | $40.86 | -27.5% | Jan 30, 2026 |
| Leerink Partners | Analyst unavailable | $45 | $38.22 | -33.4% | Dec 11, 2025 |
| Goldman Sachs | Analyst unavailable | $42 | $35.25 | -37.8% | Sep 30, 2025 |
| Morgan Stanley | Terence Flynn | $54 | $36.14 | -20.1% | Jul 10, 2025 |
| Goldman Sachs | Chris Shibutani | $51 | $29.16 | -24.5% | Sep 4, 2024 |
| Morgan Stanley | Terence Flynn | $51 | $25.73 | -24.5% | Jul 11, 2024 |
| Goldman Sachs | Chris Shibutani | $50 | $27.09 | -26.0% | Jun 7, 2024 |
| UBS | Ashwani Verma | $28 | $27.35 | -58.6% | Jun 3, 2024 |
| Morgan Stanley | Analyst unavailable | $51 | $42.87 | -24.5% | Dec 6, 2022 |
| UBS | Ashwani Verma | $47 | $38.46 | -30.4% | Jun 13, 2022 |
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Start freeCompany context
Snapshot as of publicationRoyalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovation in the biopharmaceutical industry in the United States. Its portfolio consists of royalties on approximately 35 marketed therapies and 20 development-stage product candidates that address various therapeutic areas, such as rare disease, oncology, neuroscience, infectious disease, hematology, and diabetes. The company was founded in 1996 and is based in New York, New York.
Historical context
All RPRX earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MDLN Medline Inc. | FY2026 Q3 · Calendar Q4 2026 | +28.2% | +18.4% | Medline raises 2026 sales outlook as Q3 growth offsets cost pressures |
| NVO Novo Nordisk A/S | FY2026 Q3 · Calendar Q4 2026 | +21.8% | +5.0% | Novo Nordisk raises 2026 outlook as obesity-pill growth offsets pricing pressure |
| CRL Charles River Laboratories International, Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.0% | -7.3% | Charles River raises FY2026 outlook after strong Q3; demand and margin execution lead |
| UTHR United Therapeutics Corporation | FY2026 Q3 · Calendar Q4 2026 | -5.0% | +1.2% | United Therapeutics posts record Q3 revenue as Tyvaso leads; inhaler filing slips to 2027 |
| CVS CVS Health Corp. | FY2026 Q3 · Calendar Q4 2026 | — | -12.5% | CVS raises 2026 outlook and plans a two-company separation |
| COR Cencora, Inc. | FY2026 Q4 · Calendar Q4 2026 | — | +4.0% | Cencora leans on specialty growth as FY2027 expansion requires investment |
Latest beats and misses
Who reports nextBeat on EPS
- PFGCFY2027 Q1 · November 4, 2026+3.9% EPS+13.5% move
- MDLNFY2026 Q3 · November 4, 2026+28.2% EPS+18.4% move
- NVOFY2026 Q3 · November 4, 2026+21.8% EPS+5.0% move
- CRLFY2026 Q3 · November 4, 2026+4.0% EPS-7.3% move
- CVEFY2026 Q3 · November 4, 2026+17.0% EPS-7.6% move
- KHCFY2026 Q3 · November 4, 2026+25.1% EPS+3.8% move
Missed on EPS
- UTHRFY2026 Q3 · November 4, 2026-5.0% EPS+1.2% move
- TRMBFY2026 Q3 · November 4, 2026-0.2% EPS-17.3% move
- OCFY2026 Q3 · November 4, 2026-20.5% EPS+8.5% move
- OHIFY2026 Q3 · November 3, 2026-42.5% EPS+3.5% move
- MOSFY2026 Q3 · November 3, 2026-1656.0% EPS+17.4% move
- OVVFY2026 Q3 · November 3, 2026-2.0% EPS-5.1% move
Get the RPRX recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-08-05T18:21:35.796166+00:00
- FN2 earnings calendar · 2026-09-10T01:23:13.706414+00:00
- Polygon adjusted daily market bars · 2026-11-05T04:40:46.002093+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-05T04:40:45.998978+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-05. For educational purposes only; not investment advice.