Squarepoint Ops LLC Lowers Stake in Royalty Pharma PLC $RPRX

Squarepoint Ops LLC cut its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 75.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 326,641 shares of the biopharmaceutical company’s stock after selling 1,022,875 shares during the period. Squarepoint Ops LLC’s holdings in Royalty Pharma were worth $18,315,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Phillips Wealth Planners LLC boosted its position in Royalty Pharma by 1.9% in the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock valued at $521,000 after buying an additional 242 shares during the period. Glenmede Trust Co. NA increased its position in shares of Royalty Pharma by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock worth $375,000 after acquiring an additional 254 shares during the period. Cary Street Partners Financial LLC increased its position in shares of Royalty Pharma by 1.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after acquiring an additional 260 shares during the period. Bessemer Group Inc. raised its stake in shares of Royalty Pharma by 34.7% during the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 282 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of Royalty Pharma by 1.1% during the fourth quarter. Truist Financial Corp now owns 27,769 shares of the biopharmaceutical company’s stock valued at $1,073,000 after acquiring an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total value of $5,997,000.00. Following the transaction, the executive vice president directly owned 370,401 shares of the company’s stock, valued at approximately $22,212,947.97. The trade was a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, EVP Marshall Urist sold 9,099 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 398,197 shares of company stock valued at $22,513,280. 18.84% of the stock is owned by insiders.

Royalty Pharma Stock Performance

RPRX stock opened at $60.59 on Thursday. The firm has a market cap of $34.84 billion, a price-to-earnings ratio of 41.79, a PEG ratio of 1.41 and a beta of 0.44. The firm has a 50-day simple moving average of $59.30 and a two-hundred day simple moving average of $53.49. Royalty Pharma PLC has a one year low of $34.63 and a one year high of $64.38. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The firm had revenue of $674.14 million for the quarter, compared to the consensus estimate of $758.93 million. On average, equities analysts forecast that Royalty Pharma PLC will post 5.31 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is 64.83%.

Analysts Set New Price Targets

RPRX has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Royalty Pharma in a report on Thursday, August 6th. Finally, TD Cowen increased their price target on Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $61.29.

Royalty Pharma 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.