Point72 DIFC Ltd Purchases New Position in Royalty Pharma plc (NASDAQ:RPRX)

Point72 DIFC Ltd purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 65,861 shares of the biopharmaceutical company's stock, valued at approximately $1,863,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 943 shares during the period. Gladius Capital Management LP acquired a new position in Royalty Pharma in the 2nd quarter worth $32,000. EverSource Wealth Advisors LLC boosted its stake in Royalty Pharma by 32.1% in 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 period. Transamerica Financial Advisors Inc. boosted its stake in Royalty Pharma by 99.9% in 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 during the period. Finally, iA Global Asset Management Inc. boosted its stake in Royalty Pharma by 274.7% in the 2nd 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 during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Analyst Ratings Changes

RPRX has been the topic of several analyst reports. The Goldman Sachs Group boosted 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 dropped their target price 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. Finally, StockNews.com raised 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 issued a buy rating to the company's stock. According to MarketBeat.com, Royalty Pharma currently has an average rating of "Moderate Buy" and an average price target of $41.67.

Royalty Pharma Stock Performance

Shares of RPRX stock traded up $0.29 on Thursday, reaching $26.39. The stock had a trading volume of 2,390,459 shares, compared to its average volume of 2,640,772. Royalty Pharma plc has a 12 month low of $25.10 and a 12 month high of $31.66. The firm has a market capitalization of $15.55 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 4.63 and a beta of 0.46. The firm's 50-day moving average is $27.03 and its two-hundred day moving average is $27.29. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.21 dividend. The ex-dividend date of this dividend 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 currently 43.52%.

About Royalty Pharma

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.