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

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 58.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 634,501 shares of the biopharmaceutical company's stock after purchasing an additional 234,991 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.11% of Royalty Pharma worth $17,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Royalty Pharma by 5,215.0% during 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 acquired a new stake in Royalty Pharma during the second quarter worth approximately $32,000. Blue Trust Inc. raised its holdings in Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 943 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Royalty Pharma by 32.1% during the second 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 in the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in Royalty Pharma by 274.7% during the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company's stock worth $168,000 after purchasing an additional 4,683 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Stock Performance

NASDAQ:RPRX traded up $0.03 during midday trading on Friday, reaching $26.43. The stock had a trading volume of 2,461,722 shares, compared to its average volume of 3,097,993. The firm has a fifty day simple moving average of $27.30 and a two-hundred day simple moving average of $27.39. Royalty Pharma plc has a 12-month low of $25.10 and a 12-month high of $31.66. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The stock has a market cap of $15.57 billion, a P/E ratio of 13.69, a P/E/G ratio of 4.64 and a beta of 0.47.

Royalty Pharma Dividend Announcement

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

Wall Street Analyst Weigh In

RPRX has been the topic of a number of research reports. The Goldman Sachs Group raised their target price 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. StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Finally, Citigroup lowered 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 equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.