Royalty Pharma (NASDAQ:RPRX) Sees Strong Trading Volume – Here’s What Happened

Royalty Pharma plc (NASDAQ:RPRX) saw unusually-high trading volume on Monday . Approximately 2,576,101 shares traded hands during 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RPRX shares. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Citigroup decreased their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.67.

Royalty Pharma Stock Down 0.1 %

The company has a fifty day moving average price of $26.32 and a 200-day moving average price of $27.13. 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 firm has a market capitalization of $14.87 billion, a PE ratio of 13.07, a PEG ratio of 4.36 and a beta of 0.46.

Royalty Pharma Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPRX. Bank of New York Mellon Corp raised its position in Royalty Pharma by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock worth $40,428,000 after purchasing an additional 86,248 shares during the period. State of Michigan Retirement System boosted its holdings in Royalty Pharma by 40.3% during the 2nd quarter. State of Michigan Retirement System now owns 16,700 shares of the biopharmaceutical company’s stock valued at $440,000 after acquiring an additional 4,800 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Royalty Pharma by 11,203.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company’s stock worth $8,197,000 after purchasing an additional 308,102 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Royalty Pharma by 119.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 399,510 shares of the biopharmaceutical company’s stock worth $10,535,000 after buying an additional 217,767 shares during the period. Finally, iA Global Asset Management Inc. grew its holdings in Royalty Pharma by 274.7% during the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock worth $168,000 after acquiring an additional 4,683 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

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.