Royalty Pharma (NASDAQ:RPRX) Sees Large Volume Increase – Still a Buy?

Royalty Pharma plc (NASDAQ:RPRX) shares saw unusually-strong trading volume on Monday . Approximately 2,576,101 shares changed 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.

Analyst Ratings Changes

A number of brokerages have recently commented on RPRX. Citigroup lowered their price objective 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. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Royalty Pharma Price Performance

The company has a market cap of $14.81 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 4.36 and a beta of 0.46. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average price is $26.43 and its 200-day moving average price is $27.15.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Friday, November 15th. Royalty Pharma’s dividend payout ratio is currently 43.52%.

Hedge Funds Weigh In On Royalty Pharma

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Royalty Pharma by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock worth $40,428,000 after acquiring an additional 86,248 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Royalty Pharma by 40.3% in the 2nd quarter. State of Michigan Retirement System now owns 16,700 shares of the biopharmaceutical company’s stock worth $440,000 after purchasing an additional 4,800 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Royalty Pharma by 11,203.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company’s stock worth $8,197,000 after buying an additional 308,102 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Royalty Pharma by 119.8% in the second 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. lifted its stake 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 valued at $168,000 after buying an additional 4,683 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

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.