Royalty Pharma (NASDAQ:RPRX) Hits New 1-Year Low - Here's What Happened

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The company traded as low as $25.12 and last traded at $25.64, with a volume of 394313 shares. The stock had previously closed at $25.58.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of research reports. Citigroup reduced 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. StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Finally, 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 report on Wednesday, August 14th. One research 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 a consensus target price of $41.67.

Royalty Pharma Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a fifty day moving average of $27.53 and a 200-day moving average of $27.48. The company has a market cap of $15.25 billion, a PE ratio of 13.25, a PEG ratio of 3.78 and a beta of 0.47.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma's payout ratio is presently 43.52%.

Institutional Investors Weigh In On Royalty Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Royalty Pharma by 4,335.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,750 shares of the biopharmaceutical company's stock worth $84,000 after buying an additional 2,688 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Royalty Pharma by 24.5% during the first quarter. Russell Investments Group Ltd. now owns 402,143 shares of the biopharmaceutical company's stock valued at $12,224,000 after buying an additional 79,176 shares during the period. ProShare Advisors LLC raised its stake in Royalty Pharma by 9.7% in the first quarter. ProShare Advisors LLC now owns 31,305 shares of the biopharmaceutical company's stock worth $951,000 after buying an additional 2,764 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Royalty Pharma by 12.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 181,743 shares of the biopharmaceutical company's stock worth $5,520,000 after buying an additional 19,642 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Royalty Pharma by 15.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,435 shares of the biopharmaceutical company's stock valued at $6,573,000 after acquiring an additional 29,672 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

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.