Royalty Pharma (NASDAQ:RPRX) Reaches New 1-Year Low – Here’s Why

Royalty Pharma plc (NASDAQ:RPRX)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $25.10 and last traded at $25.12, with a volume of 757826 shares trading hands. The stock had previously closed at $25.59.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RPRX shares. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Citigroup reduced their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Trading Down 1.5 %

The stock has a 50 day moving average of $26.77 and a 200-day moving average of $27.23. The company has a market capitalization of $14.64 billion, a P/E ratio of 13.06, a P/E/G ratio of 4.43 and a beta of 0.46. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.38%. Royalty Pharma’s payout ratio is currently 43.52%.

Institutional Trading of Royalty Pharma

Several institutional investors and hedge funds have recently modified their holdings of RPRX. Van ECK Associates Corp increased its stake in 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 buying an additional 64,057 shares in the last quarter. Summit Global Investments bought a new position in shares of Royalty Pharma in the third quarter worth about $735,000. Two Sigma Advisers LP grew its position in shares of 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 worth $85,809,000 after purchasing an additional 936,900 shares in the last quarter. New South Capital Management Inc. raised its stake in Royalty Pharma by 5.0% during the 3rd quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company’s stock valued at $69,774,000 after purchasing an additional 117,394 shares during the period. Finally, Cannon Global Investment Management LLC purchased a new position in Royalty Pharma in the 3rd quarter worth approximately $976,000. 54.35% of the stock is currently 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.