Royalty Pharma (NASDAQ:RPRX) Reaches New 52-Week High – What’s Next?

Royalty Pharma plc (NASDAQ:RPRX)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $31.73 and last traded at $31.60, with a volume of 1995650 shares traded. The stock had previously closed at $31.06.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup lowered their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. Finally, StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and an average price target of $41.67.

Royalty Pharma Trading Up 2.1 %

The firm has a market cap of $18.69 billion, a price-to-earnings ratio of 16.43 and a beta of 0.47. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The business’s fifty day moving average is $26.78 and its two-hundred day moving average is $27.37.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be paid a $0.22 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.88 dividend on an annualized basis and a yield of 2.77%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is presently 43.52%.

Institutional Trading of Royalty Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in Royalty Pharma by 13.0% during the 2nd quarter. American Century Companies Inc. now owns 60,468 shares of the biopharmaceutical company’s stock valued at $1,595,000 after purchasing an additional 6,955 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Royalty Pharma by 21.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,257 shares of the biopharmaceutical company’s stock worth $20,765,000 after acquiring an additional 139,761 shares during the period. Sei Investments Co. lifted its position in shares of Royalty Pharma by 81.7% during the 2nd quarter. Sei Investments Co. now owns 69,071 shares of the biopharmaceutical company’s stock worth $1,821,000 after buying an additional 31,055 shares during the last quarter. Xponance Inc. increased its holdings in shares of Royalty Pharma by 1.9% during the second quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock worth $836,000 after buying an additional 606 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Royalty Pharma by 60.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 72,762 shares of the biopharmaceutical company’s stock worth $1,919,000 after purchasing an additional 27,553 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

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.