Portolan Capital Management LLC Invests $4.82 Million in Royalty Pharma plc (NASDAQ:RPRX)

Portolan Capital Management LLC bought a new position in shares of Royalty Pharma plc (NASDAQ:RPRX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 170,464 shares of the biopharmaceutical company’s stock, valued at approximately $4,822,000.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its position 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 period. Gladius Capital Management LP acquired a new position in shares of Royalty Pharma in the second quarter valued at about $32,000. 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 acquiring an additional 655 shares during the period. Transamerica Financial Advisors Inc. raised its stake in Royalty Pharma by 99.9% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 1,729 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in Royalty Pharma by 274.7% in the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock valued at $168,000 after purchasing an additional 4,683 shares during the period. Institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Citigroup dropped 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. The Goldman Sachs Group lifted their price objective on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, StockNews.com raised 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $26.34 on Wednesday. The stock has a fifty day moving average of $27.09 and a 200-day moving average of $27.30. The stock has a market capitalization of $15.52 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 4.64 and a beta of 0.46. 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 plc has a 52 week low of $25.10 and a 52 week high of $31.66.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.19%. Royalty Pharma’s dividend payout ratio (DPR) is currently 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.