Royalty Pharma (NASDAQ:RPRX) Sees Large Volume Increase – Here’s What Happened

Royalty Pharma plc (NASDAQ:RPRX) saw unusually-strong trading volume on Friday . Approximately 2,670,297 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 2,573,080 shares.The stock last traded at $26.77 and had previously closed at $26.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. The Goldman Sachs Group increased their target price on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley boosted their price objective on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Citigroup decreased their price target 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Price Performance

The business has a 50 day simple moving average of $27.83 and a two-hundred day simple moving average of $27.54. The firm has a market capitalization of $15.62 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 3.92 and a beta of 0.47. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Royalty Pharma had a net margin of 50.53% and a return on equity of 24.87%. The company had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $600.83 million. During the same period in the prior year, the business earned $0.85 earnings per share. On average, sell-side analysts expect that Royalty Pharma plc will post 4.05 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s payout ratio is 43.52%.

Institutional Investors Weigh In On Royalty Pharma

Large investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in shares of Royalty Pharma by 1.5% in the 3rd quarter. Swiss National Bank now owns 1,140,600 shares of the biopharmaceutical company’s stock valued at $32,268,000 after purchasing an additional 17,000 shares in the last quarter. S&CO Inc. boosted its position in Royalty Pharma by 1.2% during the third quarter. S&CO Inc. now owns 362,485 shares of the biopharmaceutical company’s stock valued at $10,254,000 after buying an additional 4,220 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Royalty Pharma by 96.9% during the third quarter. Thrivent Financial for Lutherans now owns 343,150 shares of the biopharmaceutical company’s stock valued at $9,708,000 after buying an additional 168,905 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in shares of Royalty Pharma by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 94,066 shares of the biopharmaceutical company’s stock worth $2,661,000 after buying an additional 37,878 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Royalty Pharma by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 25,091 shares of the biopharmaceutical company’s stock valued at $710,000 after acquiring an additional 905 shares during the last quarter. 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.