Royalty Pharma (NASDAQ:RPRX) Sees Unusually-High Trading Volume - Here's What Happened

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report) shares saw an uptick in trading volume on Monday . 2,576,101 shares traded hands during trading, a decline of 4% from the previous session's volume of 2,689,663 shares.The stock last traded at $24.99 and had previously closed at $24.92.

Analyst Ratings Changes

A number of research firms recently weighed in on RPRX. Citigroup reduced 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. StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Royalty Pharma has an average rating of "Moderate Buy" and a consensus target price of $41.67.

Royalty Pharma Trading Up 1.3 %

The stock has a market capitalization of $14.88 billion, a PE ratio of 13.08, a P/E/G ratio of 4.36 and a beta of 0.46. The company's 50 day moving average price is $26.43 and its two-hundred day moving average price is $27.16. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were given a dividend of $0.21 per share. The ex-dividend date was Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.33%. Royalty Pharma's payout ratio is currently 43.52%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in 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 valued at $40,428,000 after acquiring an additional 86,248 shares during the period. State of Michigan Retirement System lifted its holdings in Royalty Pharma by 40.3% during the 2nd quarter. State of Michigan Retirement System now owns 16,700 shares of the biopharmaceutical company's stock worth $440,000 after buying an additional 4,800 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Royalty Pharma by 11,203.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company's stock valued at $8,197,000 after buying an additional 308,102 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Royalty Pharma by 119.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 399,510 shares of the biopharmaceutical company's stock worth $10,535,000 after acquiring an additional 217,767 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its stake in shares of Royalty Pharma by 274.7% in the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company's stock valued at $168,000 after acquiring an additional 4,683 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

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.