Metis Global Partners LLC Acquires 2,126 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Metis Global Partners LLC boosted its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,737 shares of the biopharmaceutical company’s stock after acquiring an additional 2,126 shares during the quarter. Metis Global Partners LLC’s holdings in Royalty Pharma were worth $615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Royalty Pharma by 5,215.0% during the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,043 shares during the last quarter. Gladius Capital Management LP bought a new position in Royalty Pharma in the 2nd quarter valued at $32,000. Blue Trust Inc. boosted its position in Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 655 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of 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 acquiring an additional 2,688 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analysts Set New Price Targets

RPRX has been the subject of a number of research reports. The Goldman Sachs Group lifted 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. Citigroup lowered their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma Trading Up 0.5 %

Shares of NASDAQ:RPRX opened at $25.70 on Monday. Royalty Pharma plc has a 52-week low of $25.10 and a 52-week high of $31.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market capitalization of $15.25 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 3.76 and a beta of 0.47. The company has a 50-day simple moving average of $27.47 and a 200 day simple moving average of $27.45.

Royalty Pharma Announces Dividend

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

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.