Daiwa Securities Group Inc. Purchases 3,000 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Daiwa Securities Group Inc. grew its position in Royalty Pharma plc (NASDAQ:RPRX) by 10.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,694 shares of the biopharmaceutical company’s stock after buying an additional 3,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Royalty Pharma were worth $868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc lifted its stake in 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 worth $28,000 after acquiring an additional 1,043 shares during the period. Blue Trust Inc. lifted 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 worth $32,000 after purchasing an additional 943 shares during the period. Gladius Capital Management LP bought a new position in shares of Royalty Pharma during the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC boosted its stake in shares of Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 655 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its stake in Royalty Pharma by 274.7% in the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 4,683 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RPRX. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised their price objective 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 reduced their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Trading Up 0.2 %

Shares of NASDAQ:RPRX opened at $26.66 on Friday. The business’s 50-day moving average is $27.15 and its 200 day moving average is $27.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. Royalty Pharma plc has a 1 year low of $25.10 and a 1 year high of $31.66. The firm has a market capitalization of $15.71 billion, a P/E ratio of 13.81, a P/E/G ratio of 4.67 and a beta of 0.47.

Royalty Pharma Dividend Announcement

The business 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 dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. Royalty Pharma’s dividend payout ratio (DPR) is currently 43.52%.

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.