Stonepine Capital Management LLC Purchases New Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Stonepine Capital Management LLC purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 212,000 shares of the biopharmaceutical company’s stock, valued at approximately $5,997,000. Royalty Pharma makes up approximately 3.8% of Stonepine Capital Management LLC’s holdings, making the stock its 5th biggest holding.

A number of other institutional investors have also bought and sold shares of the business. Aurora Investment Counsel increased its holdings in shares of Royalty Pharma by 1.0% during the 3rd quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company’s stock worth $1,427,000 after buying an additional 512 shares during the last quarter. Xponance Inc. increased its holdings in shares of Royalty Pharma by 1.9% during the 2nd quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock worth $836,000 after buying an additional 606 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 655 shares during the last quarter. Values First Advisors Inc. increased its holdings in shares of Royalty Pharma by 7.6% during the 3rd quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company’s stock worth $295,000 after buying an additional 738 shares during the last quarter. Finally, Phillips Wealth Planners LLC increased its holdings in Royalty Pharma by 10.2% in the 3rd quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company’s stock valued at $246,000 after purchasing an additional 808 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RPRX has been the subject of several research reports. The Goldman Sachs Group lifted their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. 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 note on Friday, October 25th. Finally, StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Royalty Pharma has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma Trading Up 0.7 %

RPRX stock traded up $0.19 during midday trading on Wednesday, hitting $26.48. The stock had a trading volume of 275,731 shares, compared to its average volume of 2,638,369. The firm has a market cap of $15.60 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 4.65 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. Royalty Pharma plc has a 12-month low of $25.10 and a 12-month high of $31.66. The company’s 50-day moving average price is $27.22 and its 200 day moving average price is $27.35.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.17%. Royalty Pharma’s payout ratio 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.