Royalty Pharma plc (NASDAQ:RPRX) Shares Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC grew its position in Royalty Pharma plc (NASDAQ:RPRX) by 3.1% during the third quarter, Holdings Channel.com reports. The firm owned 772,623 shares of the biopharmaceutical company’s stock after acquiring an additional 22,993 shares during the period. Eventide Asset Management LLC’s holdings in Royalty Pharma were worth $21,858,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its position in shares of 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 valued at $28,000 after buying an additional 1,043 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of Royalty Pharma in the 2nd quarter valued at $32,000. Blue Trust Inc. grew its position in shares of Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 during the last quarter. Finally, Transamerica Financial Advisors Inc. grew its position in shares of 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. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RPRX shares. Citigroup dropped their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group increased their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Trading Up 1.2 %

Shares of Royalty Pharma stock opened at $26.60 on Friday. Royalty Pharma plc has a 1 year low of $25.10 and a 1 year high of $31.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market capitalization of $15.67 billion, a P/E ratio of 13.78, a PEG ratio of 4.67 and a beta of 0.47. The company’s fifty day moving average is $27.16 and its two-hundred day moving average is $27.34.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s payout ratio is 43.52%.

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.