Royalty Pharma (NASDAQ:RPRX) Hits New 12-Month Low – Here’s What Happened

Royalty Pharma plc (NASDAQ:RPRX) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $25.10 and last traded at $25.12, with a volume of 757826 shares. The stock had previously closed at $25.59.

Wall Street Analysts Forecast Growth

RPRX has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup dropped their price target 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Price Performance

The stock’s 50-day simple moving average is $26.88 and its two-hundred day simple moving average is $27.26. The company has a market capitalization of $14.82 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 4.55 and a beta of 0.46. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Friday, November 15th. Royalty Pharma’s dividend payout ratio is presently 43.52%.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds have recently made changes to their positions in RPRX. Blue Trust Inc. boosted its stake in Royalty Pharma by 362.7% during 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 last quarter. Gladius Capital Management LP acquired a new position in Royalty Pharma during the second quarter worth about $32,000. Wilmington Savings Fund Society FSB purchased a new stake in Royalty Pharma during the 3rd quarter valued at about $61,000. EverSource Wealth Advisors LLC raised its holdings 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. lifted its stake 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 worth $98,000 after purchasing an additional 1,729 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

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.