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

Royalty Pharma plc (NASDAQ:RPRX) shares saw unusually-high trading volume on Tuesday . Approximately 2,826,189 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 2,609,791 shares.The stock last traded at $25.54 and had previously closed at $25.80.

Wall Street Analysts Forecast Growth

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

Royalty Pharma Price Performance

The stock has a market capitalization of $15.45 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 4.59 and a beta of 0.47. 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 50-day moving average price of $27.35 and a 200 day moving average price of $27.41.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc increased its holdings in Royalty Pharma by 5,215.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 1,043 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Royalty Pharma during the second quarter worth about $32,000. Blue Trust Inc. increased its stake in shares of 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 valued at $76,000 after buying an additional 655 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. lifted 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 in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

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.