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

Royalty Pharma plc (NASDAQ:RPRX) shares saw strong trading volume on Tuesday . 2,826,189 shares changed hands during mid-day trading, an increase of 8% from the previous session’s volume of 2,609,791 shares.The stock last traded at $25.54 and had previously closed at $25.80.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RPRX shares. Citigroup dropped their price objective 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. The Goldman Sachs Group increased their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Stock Performance

The stock has a market cap of $15.27 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 3.76 and a beta of 0.47. The stock has a fifty day moving average of $27.42 and a 200-day moving average of $27.43. 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 Dividend Announcement

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

Hedge Funds Weigh In On Royalty Pharma

Several hedge funds have recently bought and sold shares of RPRX. Hohimer Wealth Management LLC raised its stake in Royalty Pharma by 1.0% in the 3rd quarter. Hohimer Wealth Management LLC now owns 145,357 shares of the biopharmaceutical company’s stock valued at $4,112,000 after purchasing an additional 1,445 shares during the last quarter. Geode Capital Management LLC boosted its position in Royalty Pharma by 6.1% during the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after acquiring an additional 417,490 shares during the last quarter. M&T Bank Corp grew its stake in Royalty Pharma by 4.3% in the 3rd quarter. M&T Bank Corp now owns 18,749 shares of the biopharmaceutical company’s stock worth $531,000 after acquiring an additional 779 shares during the period. Barclays PLC raised its holdings in Royalty Pharma by 16.3% in the 3rd quarter. Barclays PLC now owns 308,887 shares of the biopharmaceutical company’s stock valued at $8,737,000 after acquiring an additional 43,339 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. purchased a new stake in shares of Royalty Pharma in the third quarter valued at $260,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

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.