Royalty Pharma (NASDAQ:RPRX) Sees Strong Trading Volume - Here's Why

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report) shares saw strong trading volume on Wednesday . 4,420,897 shares changed hands during mid-day trading, an increase of 54% from the previous session's volume of 2,868,663 shares.The stock last traded at $33.07 and had previously closed at $33.76.

Analysts Set New Price Targets

RPRX has been the subject of a number of recent research reports. Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday. TD Cowen raised Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $41.60.

Royalty Pharma Stock Down 0.9 %

The firm's 50 day simple moving average is $32.44 and its 200 day simple moving average is $28.85. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. Sell-side analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

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Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.81%. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's dividend payout ratio is presently 60.69%.

Institutional Trading of Royalty Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV raised its holdings in Royalty Pharma by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after purchasing an additional 349 shares in the last quarter. Keene & Associates Inc. increased its position in shares of Royalty Pharma by 1.9% during the 4th quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company's stock valued at $495,000 after purchasing an additional 370 shares during the period. National Bank of Canada FI lifted its holdings in shares of Royalty Pharma by 21.8% in the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 371 shares during the period. Blue Trust Inc. boosted its stake in Royalty Pharma by 31.3% during the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 376 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC boosted its stake in Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock valued at $890,000 after buying an additional 380 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

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.