Royalty Pharma (NASDAQ:RPRX) Reaches New 52-Week Low – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on RPRX. Citigroup lowered their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group boosted their price objective on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Stock Up 1.3 %

The firm has a 50-day moving average price of $27.47 and a two-hundred day moving average price of $27.46. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 3.78 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Royalty Pharma Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc lifted its position in Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,043 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Royalty Pharma in the 2nd quarter valued at about $32,000. Blue Trust Inc. grew its stake in Royalty Pharma by 362.7% during the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 655 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Royalty Pharma by 4,335.5% during the first 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 during the period. Institutional investors and hedge funds 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.