HighTower Advisors LLC Cuts Holdings in Royalty Pharma plc (NASDAQ:RPRX)

HighTower Advisors LLC lowered its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,588 shares of the biopharmaceutical company’s stock after selling 18,624 shares during the period. HighTower Advisors LLC’s holdings in Royalty Pharma were worth $5,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RPRX. Aurora Investment Counsel lifted its stake in shares of Royalty Pharma by 1.0% during the 3rd quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company’s stock worth $1,427,000 after purchasing an additional 512 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Royalty Pharma by 1.9% in the 2nd quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock valued at $836,000 after buying an additional 606 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 655 shares in the last quarter. Values First Advisors Inc. raised its stake in shares of Royalty Pharma by 7.6% during the 3rd quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company’s stock worth $295,000 after acquiring an additional 738 shares in the last quarter. Finally, Phillips Wealth Planners LLC boosted its stake in Royalty Pharma by 10.2% in the third quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company’s stock valued at $246,000 after acquiring an additional 808 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Royalty Pharma Stock Down 1.6 %

Shares of RPRX stock opened at $25.59 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. Royalty Pharma plc has a fifty-two week low of $25.10 and a fifty-two week high of $31.66. The firm has a market capitalization of $15.08 billion, a PE ratio of 13.26, a P/E/G ratio of 4.55 and a beta of 0.46. The stock’s 50-day simple moving average is $26.94 and its 200-day simple moving average is $27.27.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Friday, November 15th. Royalty Pharma’s dividend payout ratio is presently 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.