Royalty Pharma (NASDAQ:RPRX) Shares Gap Up After Dividend Announcement

Royalty Pharma plc (NASDAQ:RPRX)’s stock price gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $26.20, but opened at $27.55. Royalty Pharma shares last traded at $27.91, with a volume of 539,187 shares traded.

The newly announced dividend which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be issued a $0.22 dividend. The ex-dividend date is Friday, February 21st. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.98%. Royalty Pharma’s payout ratio is currently 43.52%.

Analysts Set New Price Targets

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

Royalty Pharma Stock Up 12.6 %

The company has a fifty day moving average of $25.94 and a two-hundred day moving average of $27.04. The company has a market cap of $17.38 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 4.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Institutional Trading of Royalty Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of RPRX. Blue Trust Inc. raised its holdings in Royalty Pharma by 362.7% during 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 period. Wilmington Savings Fund Society FSB purchased a new stake in Royalty Pharma during the 3rd quarter valued at $61,000. GAMMA Investing LLC grew its position in Royalty Pharma by 31.4% in the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 590 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 valued at $76,000 after acquiring an additional 655 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. grew its position 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 acquiring an additional 1,729 shares during 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.