Eventide Asset Management LLC Raises Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Eventide Asset Management LLC boosted its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 772,623 shares of the biopharmaceutical company’s stock after purchasing an additional 22,993 shares during the quarter. Eventide Asset Management LLC owned approximately 0.13% of Royalty Pharma worth $21,858,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,043 shares in the last quarter. Gladius Capital Management LP purchased a new position in Royalty Pharma during the second quarter worth approximately $32,000. Blue Trust Inc. lifted its position in 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 buying an additional 943 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 655 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its position in Royalty Pharma by 99.9% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company’s stock worth $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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RPRX shares. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Citigroup cut their price objective 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 investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Royalty Pharma Stock Up 1.2 %

RPRX stock opened at $26.60 on Friday. Royalty Pharma plc has a fifty-two week low of $25.10 and a fifty-two week high of $31.66. The company’s 50 day moving average price is $27.16 and its 200 day moving average price is $27.34. 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 firm has a market capitalization of $15.67 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 4.67 and a beta of 0.47.

Royalty Pharma Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.16%. 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.