Tidal Investments LLC Buys 88,642 Shares of Royalty Pharma PLC $RPRX

Tidal Investments LLC increased its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 298.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 118,323 shares of the biopharmaceutical company’s stock after buying an additional 88,642 shares during the quarter. Tidal Investments LLC’s holdings in Royalty Pharma were worth $6,634,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. LM Advisors LLC acquired a new position in Royalty Pharma in the 4th quarter valued at $26,000. Lloyd Advisory Services LLC. bought a new stake in shares of Royalty Pharma during the 4th quarter valued at $30,000. Blue Trust Inc. grew its holdings in shares of Royalty Pharma by 173.4% during the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 437 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Royalty Pharma by 66.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 446 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Royalty Pharma by 31.9% in the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 306 shares during the period. Institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on RPRX shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Royalty Pharma in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Royalty Pharma in a report on Thursday, August 6th. TD Cowen boosted their target price on shares of Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. Finally, Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma has a consensus rating of “Buy” and a consensus target price of $61.29.

Royalty Pharma Trading Down 0.2%

Shares of RPRX stock opened at $58.61 on Friday. Royalty Pharma PLC has a fifty-two week low of $34.63 and a fifty-two week high of $64.38. The stock’s fifty day moving average price is $59.33 and its two-hundred day moving average price is $53.62. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. The company has a market cap of $33.70 billion, a PE ratio of 40.42, a P/E/G ratio of 1.38 and a beta of 0.44.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The company had revenue of $674.14 million during the quarter, compared to analysts’ expectations of $758.93 million. Equities analysts predict that Royalty Pharma PLC will post 5.32 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 14th were given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 14th. Royalty Pharma’s payout ratio is currently 64.83%.

Insider Activity

In other Royalty Pharma news, EVP Marshall Urist sold 9,099 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total transaction of $508,452.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the transaction, the executive vice president directly owned 559,399 shares of the company’s stock, valued at $30,431,305.60. This trade represents a 21.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 398,197 shares of company stock valued at $22,513,280. Insiders own 18.84% of the company’s stock.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.

Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.