Qsemble Capital Management LP Buys New Shares in Royalty Pharma plc (NASDAQ:RPRX)

Qsemble Capital Management LP purchased a new position in shares of Royalty Pharma plc (NASDAQ:RPRX) during the 3rd quarter, HoldingsChannel reports. The firm purchased 39,493 shares of the biopharmaceutical company’s stock, valued at approximately $1,117,000.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc grew its position in shares of Royalty Pharma by 5,215.0% during the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,043 shares in the last quarter. Gladius Capital Management LP acquired a new position in Royalty Pharma during the 2nd quarter worth approximately $32,000. Blue Trust Inc. grew its holdings 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 acquiring an additional 943 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 655 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RPRX. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Citigroup lowered their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, The Goldman Sachs Group raised 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 research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $26.29 on Wednesday. Royalty Pharma plc has a 1 year low of $25.10 and a 1 year high of $31.66. 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 has a market cap of $15.49 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 4.65 and a beta of 0.47. The stock’s 50-day moving average is $27.22 and its two-hundred day moving average is $27.35.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is 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.