Pictet Asset Management Holding SA Acquires 40,095 Shares of Royalty Pharma PLC $RPRX

Pictet Asset Management Holding SA increased its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 343,561 shares of the biopharmaceutical company’s stock after acquiring an additional 40,095 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Royalty Pharma worth $20,041,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Royalty Pharma by 29.0% in the 1st quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock valued at $167,696,000 after acquiring an additional 786,921 shares during the last quarter. Amundi lifted its stake in Royalty Pharma by 15.3% in the 1st quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company’s stock worth $148,168,000 after purchasing an additional 409,394 shares in the last quarter. Dorsey Asset Management LLC boosted its holdings in shares of Royalty Pharma by 0.8% during the 1st quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock worth $109,207,000 after purchasing an additional 17,101 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Royalty Pharma by 2,562.2% during the 1st quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock worth $74,000,000 after purchasing an additional 1,486,020 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Royalty Pharma by 5.8% during the 1st quarter. Swiss National Bank now owns 1,191,100 shares of the biopharmaceutical company’s stock worth $57,137,000 after purchasing an additional 65,700 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RPRX. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings upgraded Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 14th. The Goldman Sachs Group reissued a “buy” rating and set a $66.00 price objective on shares of Royalty Pharma in a research note on Thursday, August 6th. Citigroup upped their target price on Royalty Pharma from $70.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Finally, TD Cowen upped their target price on Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. Eight research analysts have rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $63.29.

Insider Activity

In other Royalty Pharma news, EVP Marshall Urist sold 4,126 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $57.10, for a total value of $235,594.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the completion of the transaction, the executive vice president directly owned 270,401 shares in the company, valued at $15,826,570.53. The trade was a 27.00% 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. Over the last 90 days, insiders sold 208,252 shares of company stock worth $12,324,407. 18.84% of the stock is owned by insiders.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $70.01 on Thursday. The firm has a market cap of $40.26 billion, a PE ratio of 58.34, a price-to-earnings-growth ratio of 1.37 and a beta of 0.37. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.77. Royalty Pharma PLC has a 52 week low of $37.31 and a 52 week high of $70.27. The business’s fifty day simple moving average is $61.29 and its 200-day simple moving average is $54.25.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be issued a $0.2350 dividend. This represents a $0.94 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s payout ratio is 78.33%.

Royalty Pharma Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding. The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.