150,455 Shares in Royalty Pharma PLC $RPRX Purchased by Magnetar Financial LLC

Magnetar Financial LLC acquired a new stake in Royalty Pharma PLC (NASDAQ:RPRX) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 150,455 shares of the biopharmaceutical company’s stock, valued at approximately $5,308,000.

Several other institutional investors have also added to or reduced their stakes in the business. Watchtower Advisors LP bought a new position in Royalty Pharma in the 2nd quarter worth approximately $3,603,000. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Royalty Pharma during the 3rd quarter valued at $933,000. Nordea Investment Management AB lifted its position in shares of Royalty Pharma by 18.3% during the third quarter. Nordea Investment Management AB now owns 775,999 shares of the biopharmaceutical company’s stock worth $27,137,000 after acquiring an additional 120,004 shares in the last quarter. World Investment Advisors purchased a new stake in shares of Royalty Pharma during the third quarter worth $1,702,000. Finally, Generali Asset Management SPA SGR boosted its holdings in shares of Royalty Pharma by 7,752.8% in the third quarter. Generali Asset Management SPA SGR now owns 34,081 shares of the biopharmaceutical company’s stock worth $1,202,000 after acquiring an additional 33,647 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Trading Up 1.6%

Royalty Pharma stock opened at $46.69 on Thursday. The stock has a market cap of $26.93 billion, a P/E ratio of 34.59 and a beta of 0.40. Royalty Pharma PLC has a fifty-two week low of $29.66 and a fifty-two week high of $47.86. The firm’s fifty day moving average price is $42.97 and its 200-day moving average price is $39.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.13. The company had revenue of $621.99 million during the quarter, compared to analyst estimates of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. Equities research analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, February 20th. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s payout ratio is 69.63%.

Insider Transactions at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 34,791 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $46.78, for a total value of $1,627,522.98. Following the transaction, the chief financial officer directly owned 45,761 shares in the company, valued at approximately $2,140,699.58. This represents a 43.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marshall Urist sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $41.09, for a total transaction of $821,800.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 737,078 shares of company stock valued at $29,862,002. Corporate insiders own 18.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup lifted their price target on Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Friday, January 30th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $61.00 price target on shares of Royalty Pharma in a report on Thursday, February 12th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $48.67.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.