Royalty Pharma (NASDAQ:RPRX) Sees Strong Trading Volume – Should You Buy?

Royalty Pharma plc (NASDAQ:RPRX) saw an uptick in trading volume on Monday . 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 Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of 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 raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Trading Up 0.8 %

The company has a 50 day simple moving average of $26.43 and a 200 day simple moving average of $27.15. The stock has a market capitalization of $14.81 billion, a PE ratio of 13.02, a P/E/G ratio of 4.36 and a beta of 0.46. 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 Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RPRX. Bank of New York Mellon Corp increased its position in Royalty Pharma by 6.0% during 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 stake in shares of 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 worth $440,000 after acquiring an additional 4,800 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Royalty Pharma by 11,203.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company’s stock worth $8,197,000 after acquiring an additional 308,102 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in 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 valued at $10,535,000 after purchasing an additional 217,767 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in Royalty Pharma by 274.7% during the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock worth $168,000 after purchasing an additional 4,683 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

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.