Investors Buy High Volume of Call Options on Royalty Pharma (NASDAQ:RPRX)

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Royalty Pharma plc (NASDAQ:RPRX) saw unusually large options trading on Monday. Stock investors purchased 8,582 call options on the company. This represents an increase of approximately 1,071% compared to the average daily volume of 733 call options.

Shares of RPRX stock traded up $1.13 during trading on Monday, hitting $52.40. 43,513 shares of the stock traded hands, compared to its average volume of 5,243,360. The company has a quick ratio of 7.52, a current ratio of 7.52 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average price is $44.78 and its 200-day moving average price is $43.19. Royalty Pharma has a 52-week low of $34.80 and a 52-week high of $56.50.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Saturday, November 14th. The biopharmaceutical company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.11). The company had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $442.54 million. On average, equities research analysts anticipate that Royalty Pharma will post 2.33 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Investors of record on Friday, November 20th were issued a $0.15 dividend. The ex-dividend date was Thursday, November 19th. This represents a $0.60 annualized dividend and a yield of 1.15%.

A number of research firms have recently commented on RPRX. UBS Group upgraded Royalty Pharma from a “neutral” rating to a “buy” rating and dropped their target price for the company from $52.00 to $51.00 in a research report on Monday, November 9th. Zacks Investment Research lowered shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Saturday. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $52.11.

In related news, major shareholder Adage Capital Partners Gp, L.L sold 7,301,050 shares of the firm’s stock in a transaction on Friday, December 18th. The stock was sold at an average price of $43.92, for a total value of $320,662,116.00. Also, Director Rory B. Riggs sold 463,200 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $42.00, for a total value of $19,454,400.00. Following the completion of the transaction, the director now owns 463,200 shares of the company’s stock, valued at approximately $19,454,400. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its stake in shares of Royalty Pharma by 112.5% in the 3rd quarter. IFP Advisors Inc now owns 850 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 450 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Royalty Pharma in the 2nd quarter worth about $27,000. Neo Ivy Capital Management grew its holdings in shares of Royalty Pharma by 65.5% in the 3rd quarter. Neo Ivy Capital Management now owns 1,824 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 722 shares during the last quarter. American International Group Inc. acquired a new position in Royalty Pharma during the 3rd quarter worth about $67,000. Finally, Bank of America Corp DE acquired a new position in Royalty Pharma during the 2nd quarter worth about $147,000. Hedge funds and other institutional investors own 36.37% of the company’s stock.

Royalty Pharma Company Profile

Royalty Pharma plc operates in the biopharmaceutical industry. The company operates as a buyer of biopharmaceutical royalties and a funder of innovation in the biopharmaceutical industry. It is involved in the identification, evaluation, and acquisition of royalties and royalty-related assets on various biopharmaceutical therapies.

Read More: Initial Coin Offering (ICO)

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