Royalty Pharma (NASDAQ:RPRX) Sets New 1-Year Low – Here’s What Happened

Royalty Pharma plc (NASDAQ:RPRX)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock 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

A number of equities research analysts have weighed in on RPRX shares. 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 lifted their price objective on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Citigroup cut their target price 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 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Price Performance

The firm has a market capitalization of $14.82 billion, a P/E ratio of 13.26, a P/E/G ratio of 4.55 and a beta of 0.46. 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 stock’s fifty day simple moving average is $26.88 and its 200 day simple moving average is $27.26.

Royalty Pharma Announces Dividend

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

Institutional Trading of Royalty Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. M&G Plc purchased a new stake in Royalty Pharma in the second quarter valued at about $447,000. PGGM Investments raised its position in shares of Royalty Pharma by 2.7% in the 2nd quarter. PGGM Investments now owns 91,855 shares of the biopharmaceutical company’s stock valued at $2,422,000 after purchasing an additional 2,385 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Royalty Pharma in the 2nd quarter worth approximately $254,000. Swedbank AB grew its position in Royalty Pharma by 30.6% during the 2nd quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock worth $285,151,000 after purchasing an additional 2,533,570 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new position in Royalty Pharma during the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.