Royalty Pharma (NASDAQ:RPRX) Sees Large Volume Increase – Time to Buy?

Royalty Pharma plc (NASDAQ:RPRX) saw unusually-strong trading volume on Monday . Approximately 2,576,101 shares changed hands during mid-day trading, a decline of 4% from the previous session’s volume of 2,689,663 shares.The stock last traded at $24.99 and had previously closed at $24.92.

Analysts Set New Price Targets

Several brokerages recently weighed in on RPRX. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Citigroup dropped their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma Trading Down 0.1 %

The firm’s 50 day moving average price is $26.32 and its 200-day moving average price is $27.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market cap of $14.87 billion, a P/E ratio of 13.07, a P/E/G ratio of 4.36 and a beta of 0.46.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, November 15th. Royalty Pharma’s payout ratio is 43.52%.

Institutional Investors Weigh In On Royalty Pharma

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. raised its holdings in shares of Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 943 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Royalty Pharma in the third quarter worth $61,000. EverSource Wealth Advisors LLC increased its position in Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 655 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in Royalty Pharma by 99.9% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company’s stock valued at $98,000 after acquiring an additional 1,729 shares during the period. Finally, iA Global Asset Management Inc. lifted its holdings in Royalty Pharma by 274.7% in the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock valued at $168,000 after acquiring an additional 4,683 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Company Profile

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.