Royalty Pharma PLC (NASDAQ:RPRX) Short Interest Update

Key Points

• Short Interest Reduction: Royalty Pharma PLC experienced a significant drop in short interest, decreasing by 39.5% to 12,870,000 shares by September 30th.
• Analyst Ratings: Analysts have mixed views; Citigroup and Goldman Sachs upgraded their price targets to $42.00, while Morgan Stanley slightly decreased theirs to $54.00.
• Quarterly Dividend Announcement: The company announced a quarterly dividend of $0.22 per share, payable on December 10th, representing a 2.4% dividend yield.

Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 12,870,000 shares, a drop of 39.5% from the September 15th total of 21,280,000 shares. Based on an average daily trading volume, of 3,830,000 shares, the short-interest ratio is currently 3.4 days. Approximately 3.8% of the shares of the company are sold short. Approximately 3.8% of the shares of the company are sold short. Based on an average daily trading volume, of 3,830,000 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RPRX shares. Citigroup lifted their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They issued a "buy" rating and a $42.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating on the stock in a research report on Friday, October 10th. Weiss Ratings upgraded shares of Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $46.00.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors have recently made changes to their positions in RPRX. USA Financial Formulas acquired a new position in shares of Royalty Pharma during the 2nd quarter worth $32,000. Summit Securities Group LLC acquired a new position in shares of Royalty Pharma during the 1st quarter worth $36,000. WPG Advisers LLC acquired a new position in shares of Royalty Pharma during the 1st quarter worth $39,000. Allworth Financial LP raised its stake in shares of Royalty Pharma by 41.6% during the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 452 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Royalty Pharma by 42.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 402 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $36.63 on Tuesday. The firm has a market capitalization of $21.36 billion, a P/E ratio of 21.17, a PEG ratio of 2.04 and a beta of 0.60. Royalty Pharma has a one year low of $24.05 and a one year high of $38.00. The company's fifty day moving average is $36.06 and its two-hundred day moving average is $34.88. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $578.67 million for the quarter, compared to analyst estimates of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. Analysts forecast that Royalty Pharma will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, November 14th. Royalty Pharma's payout ratio is presently 50.87%.

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.

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