Royalty Pharma plc (NASDAQ:RPRX) Stock Position Raised by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in Royalty Pharma plc (NASDAQ:RPRX) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,460,515 shares of the biopharmaceutical company’s stock after buying an additional 70,130 shares during the quarter. Franklin Resources Inc.’s holdings in Royalty Pharma were worth $40,705,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Royalty Pharma by 58.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock worth $84,915,000 after acquiring an additional 1,103,341 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Royalty Pharma by 44.7% in the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock valued at $85,809,000 after purchasing an additional 936,900 shares during the last quarter. New South Capital Management Inc. boosted its holdings in Royalty Pharma by 60.7% in the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock worth $61,943,000 after purchasing an additional 887,522 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Royalty Pharma during the third quarter worth $14,898,000. Finally, Geode Capital Management LLC raised its holdings in Royalty Pharma by 6.1% during the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock valued at $205,562,000 after buying an additional 417,490 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup decreased their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. StockNews.com upgraded 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $25.12 on Wednesday. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 4.36 and a beta of 0.46. The business has a 50 day moving average price of $26.61 and a 200 day moving average price of $27.21. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a twelve month low of $24.70 and a twelve month high of $31.66.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.34%. Royalty Pharma’s dividend 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.