D.A. Davidson & CO. Purchases New Shares in Royalty Pharma plc (NASDAQ:RPRX)

D.A. Davidson & CO. acquired a new position in Royalty Pharma plc (NASDAQ:RPRX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,965 shares of the biopharmaceutical company’s stock, valued at approximately $1,300,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. bought a new position in Royalty Pharma in the first quarter worth about $487,000. Atria Investments Inc purchased a new position in shares of Royalty Pharma in the 1st quarter valued at approximately $1,185,000. Versant Capital Management Inc boosted its position in shares of Royalty Pharma by 5,215.0% during the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,043 shares in the last quarter. BDF Gestion bought a new stake in shares of Royalty Pharma during the second quarter valued at approximately $1,007,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Royalty Pharma in the second quarter worth $5,165,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on RPRX shares. The Goldman Sachs Group raised their price objective on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup decreased their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $26.66 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market capitalization of $15.71 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 4.67 and a beta of 0.47. Royalty Pharma plc has a one year low of $25.10 and a one year high of $31.66. The company’s 50-day moving average is $27.15 and its 200 day moving average is $27.32.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is currently 43.52%.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.