ArrowMark Colorado Holdings LLC Makes New $2.03 Million Investment in Royalty Pharma plc (NASDAQ:RPRX)

ArrowMark Colorado Holdings LLC bought a new stake in Royalty Pharma plc (NASDAQ:RPRX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 71,750 shares of the biopharmaceutical company’s stock, valued at approximately $2,030,000.

Several other hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc lifted its stake in Royalty Pharma by 5,215.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,043 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of Royalty Pharma during the second quarter valued at about $32,000. Blue Trust Inc. boosted its holdings 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 purchasing an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 655 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. increased its stake in Royalty Pharma by 99.9% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company’s stock valued at $98,000 after buying an additional 1,729 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

RPRX has been the topic of a number of research analyst reports. Citigroup cut their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.67.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $26.43 on Tuesday. 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 stock has a fifty day simple moving average of $27.15 and a two-hundred day simple moving average of $27.32. Royalty Pharma plc has a 1-year low of $25.10 and a 1-year high of $31.66. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 4.68 and a beta of 0.46.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.18%. Royalty Pharma’s payout ratio is 43.52%.

Royalty Pharma 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.