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

Royalty Pharma plc (NASDAQ:RPRX) saw an uptick in trading volume on Tuesday . 4,706,208 shares traded hands during trading, an increase of 13% from the previous session’s volume of 4,152,292 shares.The stock last traded at $31.69 and had previously closed at $31.72.

Wall Street Analyst Weigh In

RPRX has been the subject of several research analyst reports. Citigroup cut 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 shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $41.67.

Royalty Pharma Price Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The business’s 50-day moving average price is $26.90 and its two-hundred day moving average price is $27.40. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 16.55 and a beta of 0.47.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is currently 43.52%.

Institutional Investors Weigh In On Royalty Pharma

A number of institutional investors have recently modified their holdings of the business. Brooklyn Investment Group grew its holdings in shares of Royalty Pharma by 1,006.9% during the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 876 shares during the last quarter. Blue Trust Inc. lifted its holdings in Royalty Pharma by 362.7% in the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 943 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Royalty Pharma by 187.1% in the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 997 shares in the last quarter. Spire Wealth Management increased its position in shares of Royalty Pharma by 377.6% during the 4th quarter. Spire Wealth Management now owns 2,149 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 1,699 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Royalty Pharma in the third quarter worth about $61,000. Institutional investors own 54.35% of the company’s stock.

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.