ArrowMark Colorado Holdings LLC Invests $2.03 Million in Royalty Pharma plc (NASDAQ:RPRX)

ArrowMark Colorado Holdings LLC purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 71,750 shares of the biopharmaceutical company's stock, valued at approximately $2,030,000.

A number of other hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its position in shares of Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 1,043 shares in the last quarter. Gladius Capital Management LP bought a new stake in Royalty Pharma during the second quarter worth about $32,000. Blue Trust Inc. boosted its position in Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 655 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. raised its stake in shares of Royalty Pharma by 99.9% during 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. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Performance

Shares of RPRX stock traded down $0.12 on Tuesday, hitting $26.31. The company's stock had a trading volume of 876,582 shares, compared to its average volume of 2,630,132. Royalty Pharma plc has a fifty-two week low of $25.10 and a fifty-two week high of $31.66. The company has a market capitalization of $15.50 billion, a PE ratio of 13.69, a PEG ratio of 4.68 and a beta of 0.46. The stock's 50 day moving average is $27.15 and its 200-day moving average is $27.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.19%. Royalty Pharma's payout ratio is presently 43.52%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Citigroup cut their price target on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.67.

Royalty Pharma 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.