Arrowstreet Capital Limited Partnership Purchases 31,091 Shares of Royalty Pharma PLC $RPRX

Arrowstreet Capital Limited Partnership raised its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,313,265 shares of the biopharmaceutical company’s stock after purchasing an additional 31,091 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Royalty Pharma were worth $128,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. grew its position in shares of Royalty Pharma by 16.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock worth $6,662,000 after buying an additional 24,048 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Royalty Pharma in the 4th quarter worth about $4,923,000. Regal Partners Ltd boosted its stake in Royalty Pharma by 6.7% in the 3rd quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock worth $50,631,000 after purchasing an additional 89,930 shares in the last quarter. Qsemble Capital Management LP bought a new position in Royalty Pharma in the 4th quarter worth about $2,875,000. Finally, Nordea Investment Management AB boosted its stake in Royalty Pharma by 4.7% in the 4th quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock worth $31,604,000 after purchasing an additional 36,664 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RPRX shares. Morgan Stanley upped their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. UBS Group increased their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $53.71.

Royalty Pharma Trading Down 1.1%

Shares of RPRX opened at $54.27 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $56.50. The company has a 50 day simple moving average of $51.71 and a two-hundred day simple moving average of $45.72. The firm has a market cap of $31.25 billion, a P/E ratio of 36.92, a price-to-earnings-growth ratio of 1.51 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. On average, equities analysts expect that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $0.235 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a yield of 1.7%. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Insider Buying and Selling

In other news, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of Royalty Pharma stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the sale, the director owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 199,185 shares of company stock worth $10,082,926 over the last three months. 18.84% of the stock is owned by insiders.

Royalty Pharma Company Profile

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.