Short Interest in Royalty Pharma plc (NASDAQ:RPRX) Grows By 39.9%

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 29,020,000 shares, a growth of 39.9% from the May 15th total of 20,740,000 shares. Based on an average daily volume of 4,900,000 shares, the short-interest ratio is currently 5.9 days. Currently, 8.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RPRX shares. Morgan Stanley assumed coverage on Royalty Pharma in a research note on Friday, May 16th. They issued an "overweight" rating and a $51.00 price objective for the company. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Finally, Wall Street Zen lowered Royalty Pharma from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $47.33.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in Royalty Pharma by 417.6% during the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 877 shares during the last quarter. Louisbourg Investments Inc. acquired a new position in Royalty Pharma during the first quarter worth about $28,000. MassMutual Private Wealth & Trust FSB raised its position in Royalty Pharma by 76.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 414 shares in the last quarter. Riverview Trust Co lifted its holdings in Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 1,186 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Royalty Pharma in the 1st quarter worth approximately $36,000. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Up 0.7%

NASDAQ:RPRX traded up $0.26 during trading hours on Monday, hitting $35.10. The stock had a trading volume of 3,618,986 shares, compared to its average volume of 3,610,914. The business has a 50 day simple moving average of $32.82 and a two-hundred day simple moving average of $30.98. Royalty Pharma has a 1-year low of $24.05 and a 1-year high of $35.38. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market cap of $19.73 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 2.31 and a beta of 0.48.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. Analysts predict that Royalty Pharma will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.51%. The ex-dividend date was Friday, May 16th. Royalty Pharma's dividend payout ratio is currently 47.57%.

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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