Rakuten Investment Management Inc. Makes New Investment in Royalty Pharma PLC $RPRX

Rakuten Investment Management Inc. bought a new position in Royalty Pharma PLC (NASDAQ:RPRX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,660 shares of the biopharmaceutical company’s stock, valued at approximately $1,552,000.

Other large investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in Royalty Pharma by 2,562.2% in the first quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock valued at $74,000,000 after buying an additional 1,486,020 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Royalty Pharma during the first quarter valued at $37,941,000. Bank of America Corp DE grew its position in shares of Royalty Pharma by 29.0% during the first quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock worth $167,696,000 after acquiring an additional 786,921 shares during the last quarter. Carmignac Gestion bought a new position in shares of Royalty Pharma during the first quarter worth about $30,279,000. Finally, Congress Asset Management Co. acquired a new stake in shares of Royalty Pharma in the 3rd quarter worth about $30,761,000. 54.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Royalty Pharma

In other Royalty Pharma news, EVP Christopher Hite sold 100,000 shares of the firm’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 transaction, the executive vice president owned 270,401 shares of the company’s stock, valued at approximately $15,826,570.53. This trade represents a 27.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $57.10, for a total transaction of $235,594.60. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 208,252 shares of company stock valued at $12,324,407 in the last quarter. 18.84% of the stock is currently owned by insiders.

Royalty Pharma Trading Down 0.4%

NASDAQ:RPRX opened at $67.30 on Friday. Royalty Pharma PLC has a 1 year low of $37.31 and a 1 year high of $69.77. The stock has a market cap of $38.70 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 1.34 and a beta of 0.37. The business has a fifty day moving average of $60.82 and a 200-day moving average of $53.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.80 and a current ratio of 1.29.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.04% and a net margin of 25.68%. The company had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Equities analysts predict that Royalty Pharma PLC will post 5.36 earnings per share for the current year.

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. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.94 annualized dividend and a yield of 1.4%. Royalty Pharma’s dividend payout ratio is presently 78.33%.

Analysts Set New Price Targets

RPRX has been the topic of several recent research reports. TD Cowen lifted their price objective 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. Wall Street Zen cut shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. The Goldman Sachs Group restated a “buy” rating and issued a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Morgan Stanley raised their price target on shares of Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Finally, Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $63.29.

About Royalty Pharma

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.

Founded in 1996 by Pablo Legorreta, the company became publicly listed in 2020.