Simplify Asset Management Inc. Buys 37,878 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Simplify Asset Management Inc. boosted its position in Royalty Pharma plc (NASDAQ:RPRX) by 67.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,066 shares of the biopharmaceutical company’s stock after acquiring an additional 37,878 shares during the quarter. Simplify Asset Management Inc.’s holdings in Royalty Pharma were worth $2,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new stake in Royalty Pharma during the first quarter valued at about $251,461,000. New South Capital Management Inc. lifted its position in Royalty Pharma by 60.7% in the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock valued at $61,943,000 after purchasing an additional 887,522 shares during the last quarter. Homestead Advisers Corp boosted its stake in shares of Royalty Pharma by 40.7% during the first quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock valued at $57,502,000 after purchasing an additional 547,000 shares during the period. Dark Forest Capital Management LP grew its holdings in shares of Royalty Pharma by 2,974.4% in the second quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock worth $8,931,000 after purchasing an additional 327,659 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Royalty Pharma by 69.0% in the second quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company’s stock worth $20,715,000 after buying an additional 320,606 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Up 0.7 %

Royalty Pharma stock traded up $0.19 during trading hours on Friday, hitting $25.56. 1,155,170 shares of the stock traded hands, compared to its average volume of 2,585,100. Royalty Pharma plc has a one year low of $25.10 and a one year high of $31.66. The firm’s 50-day moving average price is $27.53 and its two-hundred day moving average price is $27.48. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The company has a market cap of $15.17 billion, a PE ratio of 13.25, a PEG ratio of 3.78 and a beta of 0.47.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.29%. Royalty Pharma’s dividend payout ratio is presently 43.52%.

Analysts Set New Price Targets

RPRX has been the subject of several analyst reports. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group increased their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Citigroup reduced their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

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.