Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Overbrook Management Corp

Overbrook Management Corp cut its position in Royalty Pharma plc (NASDAQ:RPRX) by 29.7% during the third quarter, HoldingsChannel.com reports. The fund owned 140,908 shares of the biopharmaceutical company’s stock after selling 59,504 shares during the period. Royalty Pharma makes up 0.9% of Overbrook Management Corp’s portfolio, making the stock its 27th largest position. Overbrook Management Corp’s holdings in Royalty Pharma were worth $3,986,000 as of its most recent SEC filing.

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

Royalty Pharma Price Performance

RPRX stock opened at $26.22 on Thursday. 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 capitalization of $15.45 billion, a PE ratio of 13.59, a P/E/G ratio of 4.59 and a beta of 0.47. Royalty Pharma plc has a 12-month low of $25.10 and a 12-month high of $31.66. The business’s fifty day moving average price is $27.35 and its 200 day moving average price is $27.41.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.20%. Royalty Pharma’s dividend payout ratio is presently 43.52%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RPRX. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Citigroup reduced their target price 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. Finally, The Goldman Sachs Group lifted their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.67.

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.