Royalty Pharma (NASDAQ:RPRX) Reaches New 12-Month Low - What's Next?

Shares of Royalty Pharma plc (NASDAQ:RPRX - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $24.70 and last traded at $25.00, with a volume of 4385083 shares traded. The stock had previously closed at $24.84.

Analysts Set New Price Targets

Several research analysts have recently commented on RPRX shares. Citigroup reduced their price target on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, October 25th. StockNews.com upgraded 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 given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Royalty Pharma Trading Up 0.5 %

The stock has a market capitalization of $14.80 billion, a PE ratio of 12.95, a P/E/G ratio of 4.36 and a beta of 0.46. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The company has a 50 day simple moving average of $26.66 and a 200 day simple moving average of $27.22.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Friday, November 15th. Royalty Pharma's dividend payout ratio (DPR) is presently 43.52%.

Hedge Funds Weigh In On Royalty Pharma

A number of institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. acquired a new position in Royalty Pharma during the second quarter valued at approximately $254,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Royalty Pharma by 6.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 993,578 shares of the biopharmaceutical company's stock worth $26,201,000 after acquiring an additional 62,218 shares in the last quarter. Bank of New York Mellon Corp lifted 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 worth $40,428,000 after buying an additional 86,248 shares during the last quarter. State of Michigan Retirement System increased its stake in Royalty Pharma by 40.3% during the second quarter. State of Michigan Retirement System now owns 16,700 shares of the biopharmaceutical company's stock valued at $440,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Royalty Pharma by 11,203.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company's stock valued at $8,197,000 after purchasing an additional 308,102 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

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.