Royalty Pharma PLC $RPRX Shares Purchased by Torray Investment Partners LLC

Torray Investment Partners LLC grew its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 702,883 shares of the biopharmaceutical company’s stock after acquiring an additional 14,107 shares during the period. Royalty Pharma comprises 3.4% of Torray Investment Partners LLC’s holdings, making the stock its 3rd largest holding. Torray Investment Partners LLC’s holdings in Royalty Pharma were worth $24,798,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Royalty Pharma in the second quarter valued at $181,388,000. Arrowstreet Capital Limited Partnership lifted its holdings in Royalty Pharma by 118.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,976,480 shares of the biopharmaceutical company’s stock worth $107,243,000 after buying an additional 1,615,706 shares during the period. Amundi grew its position in shares of Royalty Pharma by 126.1% in the 2nd quarter. Amundi now owns 2,797,471 shares of the biopharmaceutical company’s stock valued at $101,240,000 after buying an additional 1,560,093 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Royalty Pharma by 126.5% in the second quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company’s stock valued at $89,020,000 after buying an additional 1,380,115 shares during the period. Finally, State Street Corp increased its stake in shares of Royalty Pharma by 7.1% in the second quarter. State Street Corp now owns 10,194,938 shares of the biopharmaceutical company’s stock valued at $367,324,000 after buying an additional 678,810 shares during the period. Institutional investors own 54.35% of the company’s stock.

Insider Buying and Selling

In other news, EVP George W. Lloyd sold 132,426 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total transaction of $5,077,212.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marshall Urist sold 23,334 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $39.15, for a total value of $913,526.10. Following the completion of the transaction, the executive vice president owned 160,000 shares in the company, valued at approximately $6,264,000. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 846,511 shares of company stock valued at $33,011,004. 18.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on RPRX. The Goldman Sachs Group began coverage on Royalty Pharma in a research note on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price objective on the stock. Cowen restated a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. Leerink Partners set a $45.00 price objective on shares of Royalty Pharma in a research report on Thursday, December 11th. TD Cowen lifted their target price on shares of Royalty Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Morgan Stanley cut their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.60.

Royalty Pharma Stock Up 2.0%

Royalty Pharma stock opened at $39.65 on Tuesday. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.89. Royalty Pharma PLC has a 12-month low of $25.40 and a 12-month high of $41.24. The firm’s fifty day moving average is $38.89 and its 200 day moving average is $37.15. The company has a market capitalization of $22.89 billion, a PE ratio of 30.04, a PEG ratio of 1.86 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The business had revenue of $609.29 million during the quarter, compared to analysts’ expectations of $765.01 million. As a group, sell-side analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, November 14th. Royalty Pharma’s payout ratio is presently 66.67%.

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.