Royalty Pharma (NASDAQ:RPRX) Shares Gap Up - What's Next?

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $26.20, but opened at $27.55. Royalty Pharma shares last traded at $27.91, with a volume of 539,187 shares.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RPRX shares. StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Citigroup cut 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. Finally, TD Cowen upgraded shares of Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $41.67.

Royalty Pharma Price Performance

The company has a market cap of $17.38 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 4.36 and a beta of 0.47. 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 fifty day moving average price of $25.94 and a two-hundred day moving average price of $27.04.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Friday, February 21st. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's payout ratio is currently 43.52%.

Hedge Funds Weigh In On Royalty Pharma

Several institutional investors have recently added to or reduced their stakes in RPRX. Blue Trust Inc. grew its holdings in shares of Royalty Pharma by 362.7% during the third 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 last quarter. Wilmington Savings Fund Society FSB acquired a new position in Royalty Pharma during the 3rd quarter worth about $61,000. GAMMA Investing LLC grew its holdings in Royalty Pharma by 31.4% during the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company's stock worth $63,000 after acquiring an additional 590 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 valued at $76,000 after acquiring an additional 655 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. raised its stake in shares of Royalty Pharma by 99.9% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company's stock worth $98,000 after acquiring an additional 1,729 shares during the last quarter. 54.35% of the stock is 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.