Royalty Pharma (NASDAQ:RPRX) Sees Unusually-High Trading Volume

Shares of Royalty Pharma plc (NASDAQ:RPRX) saw strong trading volume on Wednesday . 713,346 shares changed hands during mid-day trading, a decline of 71% from the previous session’s volume of 2,458,443 shares.The stock last traded at $38.38 and had previously closed at $39.67.

Several equities research analysts have recently weighed in on the company. Morgan Stanley lowered their price objective on Royalty Pharma from $51.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, August 16th. Zacks Investment Research lowered Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Tigress Financial began coverage on Royalty Pharma in a research report on Friday, July 30th. They set a “buy” rating and a $50.00 price target on the stock.

The firm has a market capitalization of $23.54 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 1.13 and a beta of 1.00. The stock has a 50-day moving average of $39.10 and a 200 day moving average of $41.71. The company has a debt-to-equity ratio of 0.56, a quick ratio of 9.53 and a current ratio of 9.53.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Friday, August 20th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 19th. This represents a $0.68 dividend on an annualized basis and a yield of 1.75%. Royalty Pharma’s dividend payout ratio (DPR) is presently 42.24%.

In other Royalty Pharma news, Director Rory B. Riggs sold 167,448 shares of the company’s stock in a transaction on Monday, June 28th. The stock was sold at an average price of $42.11, for a total transaction of $7,051,235.28. Following the transaction, the director now owns 679,760 shares of the company’s stock, valued at approximately $28,624,693.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rory B. Riggs sold 666,464 shares of the company’s stock in a transaction on Friday, June 25th. The stock was sold at an average price of $42.72, for a total value of $28,471,342.08. Following the transaction, the director now directly owns 679,760 shares in the company, valued at approximately $29,039,347.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 918,301 shares of company stock worth $39,051,396. 25.86% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of RPRX. Glassman Wealth Services acquired a new stake in Royalty Pharma during the 2nd quarter worth $25,000. Essex Investment Management Co. LLC bought a new position in Royalty Pharma during the 1st quarter worth about $42,000. Tsfg LLC bought a new position in Royalty Pharma during the 2nd quarter worth about $75,000. Alpha Paradigm Partners LLC bought a new position in Royalty Pharma during the 1st quarter worth about $133,000. Finally, PGGM Investments bought a new position in Royalty Pharma during the 2nd quarter worth about $169,000. 40.55% of the stock is currently owned by institutional investors.

Royalty Pharma Company Profile (NASDAQ:RPRX)

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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