Royalty Pharma plc (NASDAQ:RPRX) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario boosted its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 47.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,733 shares of the biopharmaceutical company’s stock after purchasing an additional 4,100 shares during the period. Investment Management Corp of Ontario’s holdings in Royalty Pharma were worth $360,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB boosted its stake in shares of Royalty Pharma by 30.6% in the second quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock worth $285,151,000 after buying an additional 2,533,570 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after acquiring an additional 1,103,341 shares in the last quarter. New South Capital Management Inc. lifted its holdings in Royalty Pharma by 60.7% in the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock valued at $61,943,000 after acquiring an additional 887,522 shares during the period. Dark Forest Capital Management LP boosted its position in Royalty Pharma by 2,974.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock worth $8,931,000 after purchasing an additional 327,659 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Royalty Pharma by 69.0% during the 2nd quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company’s stock worth $20,715,000 after purchasing an additional 320,606 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several analyst reports. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group upped their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Citigroup dropped their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Stock Down 1.8 %

Shares of NASDAQ RPRX opened at $25.91 on Friday. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 4.59 and a beta of 0.46. The company’s 50-day simple moving average is $26.98 and its 200-day simple moving average is $27.28. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 52-week low of $25.10 and a 52-week high of $31.66.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.24%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s payout ratio is 43.52%.

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.