92,334 Shares in Royalty Pharma plc (NASDAQ:RPRX) Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC bought a new position in Royalty Pharma plc (NASDAQ:RPRX) during the 4th quarter, Holdings Channel reports. The fund bought 92,334 shares of the biopharmaceutical company’s stock, valued at approximately $2,355,000.

Other hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC lifted its position in shares of Royalty Pharma by 40.8% during the 4th quarter. Ridgewood Investments LLC now owns 30,735 shares of the biopharmaceutical company’s stock worth $784,000 after purchasing an additional 8,913 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Royalty Pharma by 31.4% in the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 590 shares during the last quarter. Franklin Resources Inc. increased its position in Royalty Pharma by 5.0% during the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock worth $40,705,000 after acquiring an additional 70,130 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Royalty Pharma in the 3rd quarter valued at $61,000. Finally, Sanctuary Advisors LLC grew its position in Royalty Pharma by 78.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 41,466 shares of the biopharmaceutical company’s stock worth $1,096,000 after purchasing an additional 18,288 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RPRX has been the topic of a number of research reports. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. Finally, Citigroup decreased their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $41.67.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX traded up $0.50 on Monday, hitting $29.99. The stock had a trading volume of 7,815,175 shares, compared to its average volume of 3,794,216. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 4.36 and a beta of 0.47. 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 firm’s 50 day moving average price is $25.94 and its 200-day moving average price is $27.05. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $31.66.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.93%. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 21st. Royalty Pharma’s dividend payout ratio is currently 45.60%.

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.