Whalen Wealth Management Inc. Invests $628,000 in Royalty Pharma PLC $RPRX

Whalen Wealth Management Inc. bought a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the second quarter, Holdings Channel reports. The fund bought 17,419 shares of the biopharmaceutical company’s stock, valued at approximately $628,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Royalty Pharma by 35.5% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 118,650 shares of the biopharmaceutical company’s stock valued at $4,275,000 after buying an additional 31,100 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Royalty Pharma by 1,862.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 150,072 shares of the biopharmaceutical company’s stock valued at $5,407,000 after buying an additional 142,423 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Royalty Pharma during the 2nd quarter valued at approximately $1,032,000. Wealthfront Advisers LLC lifted its position in shares of Royalty Pharma by 3.9% during the 2nd quarter. Wealthfront Advisers LLC now owns 202,283 shares of the biopharmaceutical company’s stock valued at $7,288,000 after buying an additional 7,507 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Royalty Pharma by 3.5% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 894,303 shares of the biopharmaceutical company’s stock valued at $32,222,000 after buying an additional 29,996 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Weiss Ratings lowered Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. The Goldman Sachs Group assumed coverage on Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price objective on the stock. Citigroup upped their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Royalty Pharma has an average rating of “Buy” and an average target price of $46.00.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $36.41 on Wednesday. The company’s 50-day moving average price is $36.16 and its 200-day moving average price is $35.12. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The company has a market cap of $21.23 billion, a P/E ratio of 21.05, a P/E/G ratio of 2.05 and a beta of 0.60. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%.The business had revenue of $578.67 million during the quarter, compared to the consensus estimate of $750.06 million. On average, sell-side analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. Royalty Pharma’s dividend payout ratio (DPR) is 50.87%.

About Royalty Pharma

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.