Transamerica Financial Advisors Inc. Raises Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Transamerica Financial Advisors Inc. increased its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 99.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,459 shares of the biopharmaceutical company’s stock after purchasing an additional 1,729 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Royalty Pharma were worth $98,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 1,043 shares during the period. Blue Trust Inc. grew its position in Royalty Pharma by 362.7% in the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 943 shares during the period. Gladius Capital Management LP purchased a new position in Royalty Pharma in the second quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its position in Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 655 shares during the period. Finally, iA Global Asset Management Inc. grew its position 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 worth $168,000 after acquiring an additional 4,683 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 1.2 %

Shares of NASDAQ RPRX opened at $26.60 on Thursday. The stock has a market cap of $15.67 billion, a P/E ratio of 13.78, a PEG ratio of 4.65 and a beta of 0.47. 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 plc has a 12-month low of $25.10 and a 12-month high of $31.66. The business’s fifty day simple moving average is $27.19 and its 200-day simple moving average is $27.35.

Royalty Pharma Announces Dividend

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 paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s dividend payout ratio is presently 43.52%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RPRX. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised their price target on 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 lowered their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.67.

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.