Eventide Asset Management LLC Buys 22,993 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Eventide Asset Management LLC increased its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 772,623 shares of the biopharmaceutical company's stock after buying an additional 22,993 shares during the quarter. Eventide Asset Management LLC owned 0.13% of Royalty Pharma worth $21,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RPRX. Swedbank AB boosted its holdings in Royalty Pharma by 2.0% during the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company's stock worth $311,964,000 after acquiring an additional 213,900 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company's stock worth $84,915,000 after purchasing an additional 1,103,341 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Royalty Pharma by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,972,201 shares of the biopharmaceutical company's stock worth $84,084,000 after purchasing an additional 174,874 shares in the last quarter. New South Capital Management Inc. increased its stake in Royalty Pharma by 5.0% in the 3rd quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company's stock valued at $69,774,000 after buying an additional 117,394 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Royalty Pharma by 6.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company's stock worth $40,428,000 after buying an additional 86,248 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RPRX shares. The Goldman Sachs Group increased their price target on Royalty Pharma from $50.00 to $51.00 and gave the company 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 decreased their price objective on shares of Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Royalty Pharma Stock Performance

Royalty Pharma stock traded up $0.06 during midday trading on Friday, reaching $26.66. The stock had a trading volume of 1,411,354 shares, compared to its average volume of 2,640,316. The firm has a market capitalization of $15.71 billion, a PE ratio of 13.81, a P/E/G ratio of 4.67 and a beta of 0.47. The firm's 50-day moving average price is $27.15 and its 200 day moving average price is $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 plc has a 12 month low of $25.10 and a 12 month high of $31.66.

Royalty Pharma Dividend Announcement

The firm also recently declared 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. This represents a $0.84 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma's payout ratio 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.