45,965 Shares in Royalty Pharma plc (NASDAQ:RPRX) Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. bought a new position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,965 shares of the biopharmaceutical company's stock, valued at approximately $1,300,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dai ichi Life Insurance Company Ltd lifted its position in Royalty Pharma by 79.9% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 169,270 shares of the biopharmaceutical company's stock worth $4,789,000 after acquiring an additional 75,204 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of Royalty Pharma during the third quarter worth approximately $1,117,000. Bank of Montreal Can raised its stake in shares of Royalty Pharma by 186.0% during the third quarter. Bank of Montreal Can now owns 445,937 shares of the biopharmaceutical company's stock worth $12,580,000 after purchasing an additional 290,019 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Royalty Pharma by 10.8% during the third quarter. Daiwa Securities Group Inc. now owns 30,694 shares of the biopharmaceutical company's stock worth $868,000 after purchasing an additional 3,000 shares during the period. Finally, Cerity Partners LLC grew its position in Royalty Pharma by 11.1% in the 3rd quarter. Cerity Partners LLC now owns 32,896 shares of the biopharmaceutical company's stock valued at $931,000 after buying an additional 3,291 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group upped their price objective 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 raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Finally, Citigroup lowered their price objective on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $41.67.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX traded up $0.06 during midday trading on Friday, hitting $26.66. The company had a trading volume of 1,411,354 shares, compared to its average volume of 3,259,748. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 4.68 and a beta of 0.47. Royalty Pharma plc has a twelve month low of $25.10 and a twelve month high of $31.66. The business has a 50-day simple moving average of $27.15 and a two-hundred day simple moving average of $27.32. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, November 15th. Royalty Pharma's dividend payout ratio (DPR) is 43.52%.

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.