Royalty Pharma plc (NASDAQ:RPRX – Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $34.20 and last traded at $33.80, with a volume of 8575168 shares. The stock had previously closed at $33.42.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus target price of $41.60.
Read Our Latest Report on RPRX
Royalty Pharma Trading Down 0.0 %
Royalty Pharma (NASDAQ:RPRX – Get Free Report) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. On average, research analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.
Royalty Pharma Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is 60.69%.
Hedge Funds Weigh In On Royalty Pharma
Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. increased its position in Royalty Pharma by 5.0% during the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock valued at $40,705,000 after acquiring an additional 70,130 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Royalty Pharma by 171.1% in the 3rd quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock worth $2,777,000 after purchasing an additional 64,057 shares during the period. Summit Global Investments purchased a new position in shares of Royalty Pharma in the third quarter worth approximately $735,000. Pallas Capital Advisors LLC bought a new stake in Royalty Pharma during the fourth quarter valued at approximately $2,355,000. Finally, Two Sigma Advisers LP increased its holdings in Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock valued at $85,809,000 after buying an additional 936,900 shares during the last quarter. 54.35% of the stock is owned by institutional investors.
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.
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