D.A. Davidson & CO. Makes New $1.30 Million Investment in Royalty Pharma plc (NASDAQ:RPRX)

D.A. Davidson & CO. purchased a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 45,965 shares of the biopharmaceutical company’s stock, valued at approximately $1,300,000.

A number of other large investors have also recently made changes to their positions in RPRX. Dai ichi Life Insurance Company Ltd lifted its position in Royalty Pharma by 79.9% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 169,270 shares of the biopharmaceutical company’s stock valued at $4,789,000 after purchasing an additional 75,204 shares during the period. Qsemble Capital Management LP purchased a new stake in Royalty Pharma during the 3rd quarter valued at $1,117,000. Bank of Montreal Can lifted its holdings in shares of Royalty Pharma by 186.0% during the 3rd quarter. Bank of Montreal Can now owns 445,937 shares of the biopharmaceutical company’s stock valued at $12,580,000 after buying an additional 290,019 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Royalty Pharma by 10.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 30,694 shares of the biopharmaceutical company’s stock worth $868,000 after buying an additional 3,000 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Royalty Pharma by 11.1% during the third quarter. Cerity Partners LLC now owns 32,896 shares of the biopharmaceutical company’s stock valued at $931,000 after acquiring an additional 3,291 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Citigroup reduced 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 analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Trading Up 0.2 %

Royalty Pharma stock opened at $26.66 on Friday. Royalty Pharma plc has a 12-month low of $25.10 and a 12-month high of $31.66. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 4.67 and a beta of 0.47. The firm has a 50 day moving average of $27.15 and a 200 day moving average of $27.32. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Dividend Announcement

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

Royalty Pharma 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.