BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Stake in Royalty Pharma plc (NASDAQ:RPRX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 58.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 634,501 shares of the biopharmaceutical company’s stock after buying an additional 234,991 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Royalty Pharma were worth $17,950,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Swedbank AB purchased a new position in Royalty Pharma during the first quarter worth about $251,461,000. New South Capital Management Inc. lifted its holdings in shares of Royalty Pharma by 60.7% during the 2nd quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock worth $61,943,000 after acquiring an additional 887,522 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Royalty Pharma by 2,974.4% in the second quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock worth $8,931,000 after acquiring an additional 327,659 shares during the last quarter. AQR Capital Management LLC grew its holdings in Royalty Pharma by 69.0% in the second quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company’s stock valued at $20,715,000 after purchasing an additional 320,606 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Royalty Pharma by 11,203.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company’s stock worth $8,197,000 after purchasing an additional 308,102 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Trading Up 0.1 %

NASDAQ:RPRX opened at $26.43 on Friday. Royalty Pharma plc has a 12 month low of $25.10 and a 12 month high of $31.66. The business’s 50-day moving average is $27.30 and its two-hundred day moving average is $27.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $15.57 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 4.59 and a beta of 0.47.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

Wall Street Analyst Weigh In

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

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.