Main Street Financial Solutions LLC Grows Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Main Street Financial Solutions LLC raised its position in Royalty Pharma plc (NASDAQ:RPRX) by 76.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,081 shares of the biopharmaceutical company’s stock after buying an additional 34,611 shares during the period. Main Street Financial Solutions LLC’s holdings in Royalty Pharma were worth $2,265,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of RPRX. Swedbank AB purchased a new position in Royalty Pharma in the first quarter valued at about $251,461,000. New South Capital Management Inc. increased its position 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 buying an additional 887,522 shares during the last quarter. Homestead Advisers Corp raised its stake in shares of Royalty Pharma by 40.7% in the first quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock valued at $57,502,000 after buying an additional 547,000 shares during the period. Dark Forest Capital Management LP lifted its position in shares of Royalty Pharma by 2,974.4% during the 2nd quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock valued at $8,931,000 after buying an additional 327,659 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Royalty Pharma by 69.0% during the 2nd quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company’s stock worth $20,715,000 after acquiring an additional 320,606 shares during the period. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX traded up $0.08 during midday trading on Wednesday, reaching $26.08. 583,223 shares of the company were exchanged, compared to its average volume of 2,582,816. Royalty Pharma plc has a one year low of $25.20 and a one year high of $31.66. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The business’s fifty day moving average is $27.66 and its two-hundred day moving average is $27.50. The stock has a market cap of $15.48 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 3.80 and a beta of 0.47.

Royalty Pharma Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.22%. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RPRX. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Citigroup lowered their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, The Goldman Sachs Group increased their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

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.