CTC Alternative Strategies Ltd. Purchases Shares of 9,180 Royalty Pharma plc (NASDAQ:RPRX)

CTC Alternative Strategies Ltd. purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,180 shares of the biopharmaceutical company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Swedbank AB lifted its holdings in Royalty Pharma by 30.6% in the 2nd quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock valued at $285,151,000 after acquiring an additional 2,533,570 shares during the last quarter. Van ECK Associates Corp raised its holdings in Royalty Pharma by 171.1% during 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 during the period. Summit Global Investments acquired a new stake in Royalty Pharma during the 3rd quarter worth about $735,000. New South Capital Management Inc. raised its holdings 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 worth $69,774,000 after buying an additional 117,394 shares during the period. Finally, Cannon Global Investment Management LLC acquired a new stake in Royalty Pharma during the 3rd quarter worth about $976,000. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Down 1.8 %

RPRX opened at $25.91 on Friday. Royalty Pharma plc has a 1-year low of $25.10 and a 1-year high of $31.66. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 4.59 and a beta of 0.46. The business has a 50 day moving average of $26.98 and a 200-day moving average of $27.28.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid 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 3.24%. Royalty Pharma’s payout ratio is 43.52%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup cut their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their target price on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.67.

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.