Point72 Asset Management L.P. Takes $14.90 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

Point72 Asset Management L.P. purchased a new position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 526,633 shares of the biopharmaceutical company's stock, valued at approximately $14,898,000. Point72 Asset Management L.P. owned 0.09% of Royalty Pharma at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aurora Investment Counsel raised its stake in shares of Royalty Pharma by 1.0% during the 3rd quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company's stock worth $1,427,000 after purchasing an additional 512 shares during the period. Xponance Inc. increased its holdings in Royalty Pharma by 1.9% during the second quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company's stock worth $836,000 after buying an additional 606 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock worth $76,000 after acquiring an additional 655 shares during the period. Values First Advisors Inc. boosted its stake in Royalty Pharma by 7.6% in the third quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company's stock valued at $295,000 after acquiring an additional 738 shares during the last quarter. Finally, Phillips Wealth Planners LLC grew its position in shares of Royalty Pharma by 10.2% during the 3rd quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company's stock valued at $246,000 after acquiring an additional 808 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

RPRX stock traded down $0.48 during midday trading on Friday, reaching $25.91. 4,327,547 shares of the company's stock traded hands, compared to its average volume of 3,252,537. Royalty Pharma plc has a 52 week low of $25.10 and a 52 week high of $31.66. The company has a 50-day moving average price of $26.98 and a two-hundred day moving average price of $27.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market capitalization of $15.27 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 4.59 and a beta of 0.46.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.24%. Royalty Pharma's payout ratio is 43.52%.

Analyst Ratings Changes

RPRX has been the topic of a number of research reports. Citigroup lowered their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group boosted their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Finally, StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Royalty Pharma currently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

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.