Royalty Pharma plc (NASDAQ:RPRX) Shares Bought by Simplify Asset Management Inc.

Simplify Asset Management Inc. boosted its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 67.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,066 shares of the biopharmaceutical company's stock after buying an additional 37,878 shares during the quarter. Simplify Asset Management Inc.'s holdings in Royalty Pharma were worth $2,661,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RPRX. Xponance Inc. raised its stake in Royalty Pharma by 1.9% during the 2nd quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company's stock worth $836,000 after acquiring an additional 606 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock worth $76,000 after acquiring an additional 655 shares in the last quarter. Values First Advisors Inc. raised its stake in Royalty Pharma by 7.6% during the 3rd quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company's stock worth $295,000 after acquiring an additional 738 shares in the last quarter. Phillips Wealth Planners LLC raised its stake in Royalty Pharma by 10.2% during the 3rd quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company's stock worth $246,000 after acquiring an additional 808 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Royalty Pharma by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 25,091 shares of the biopharmaceutical company's stock worth $710,000 after acquiring an additional 905 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX traded up $0.33 during midday trading on Friday, hitting $25.70. The company had a trading volume of 3,846,024 shares, compared to its average volume of 2,599,290. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a twelve month low of $25.10 and a twelve month high of $31.66. The business has a 50-day simple moving average of $27.53 and a two-hundred day simple moving average of $27.48. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 3.78 and a beta of 0.47.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma's payout ratio is currently 43.52%.

Analyst Upgrades and Downgrades

RPRX has been the topic of several research reports. The Goldman Sachs Group raised their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Finally, Citigroup lowered 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Royalty Pharma 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.