UBS analyst Ashwani Verma raised the price target on Royalty Pharma (NASDAQ: RPRX) to $57.00 (from $51.00) while maintaining a Buy rating.

The analyst comments "While the RPRX stock is up +23% YTD, we continue to see further upside on a steady stream of attractive biopharma catalysts and improved biopharma investment landscape (vs last several years) that is bringing in more generalists to the sector. We believe RPRX stock doesn't necessarily react immediately to these catalysts (~flat on RVMD news) or to quarterly beats, but the steady climb indicates that the thesis is getting broader appeal."