Royalty Pharma (NASDAQ:RPRX) Sees Large Volume Increase – Here’s Why

Royalty Pharma plc (NASDAQ:RPRX) saw strong trading volume on Wednesday . 4,420,897 shares traded hands during mid-day trading, an increase of 54% from the previous session’s volume of 2,868,663 shares.The stock last traded at $33.07 and had previously closed at $33.76.

Analyst Upgrades and Downgrades

RPRX has been the topic of several analyst reports. Citigroup reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Friday. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and a consensus target price of $41.60.

Royalty Pharma Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s 50-day moving average is $32.43 and its two-hundred day moving average is $28.82. The stock has a market cap of $18.08 billion, a PE ratio of 21.63, a PEG ratio of 2.31 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, equities analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.81%. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 21st. Royalty Pharma’s dividend payout ratio (DPR) is 60.69%.

Institutional Trading of Royalty Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Royalty Pharma by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company’s stock valued at $1,238,000 after purchasing an additional 349 shares during the period. Keene & Associates Inc. lifted its holdings in Royalty Pharma by 1.9% during the 4th quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company’s stock worth $495,000 after buying an additional 370 shares in the last quarter. National Bank of Canada FI boosted its position in Royalty Pharma by 21.8% in the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 371 shares during the period. Blue Trust Inc. grew its stake in shares of Royalty Pharma by 31.3% in the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 376 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC increased its position in shares of Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company’s stock worth $890,000 after acquiring an additional 380 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

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.