Stevens Capital Management LP Makes New Investment in Royalty Pharma plc (NASDAQ:RPRX)

Stevens Capital Management LP bought a new stake in Royalty Pharma plc (NASDAQ:RPRX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,365 shares of the biopharmaceutical company’s stock, valued at approximately $375,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RPRX. Allworth Financial LP boosted its holdings in Royalty Pharma by 89.8% in the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 451 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Royalty Pharma by 112.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 531 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Royalty Pharma by 485.2% during the 4th quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 1,999 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Royalty Pharma in the 4th quarter valued at about $110,000. Finally, CWM LLC lifted its stake in Royalty Pharma by 75.9% during the third quarter. CWM LLC now owns 4,782 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 2,064 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RPRX. The Goldman Sachs Group cut their target price on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. reduced their price target on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Finally, Bank of America decreased their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $46.75.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX traded down $0.11 during midday trading on Friday, hitting $28.00. 1,358,520 shares of the stock were exchanged, compared to its average volume of 2,670,692. Royalty Pharma plc has a twelve month low of $25.92 and a twelve month high of $35.76. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $29.65 and a 200-day moving average price of $28.54. The stock has a market cap of $16.73 billion, a P/E ratio of 14.87 and a beta of 0.45.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. The firm had revenue of $736.00 million for the quarter, compared to analysts’ expectations of $702.90 million. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. On average, research analysts forecast that Royalty Pharma plc will post 3.95 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be issued a $0.21 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 3.00%. Royalty Pharma’s dividend payout ratio (DPR) is presently 44.44%.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.