Metis Global Partners LLC Acquires 30,959 Shares of Royalty Pharma PLC $RPRX

Metis Global Partners LLC raised its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 83.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,880 shares of the biopharmaceutical company’s stock after purchasing an additional 30,959 shares during the quarter. Metis Global Partners LLC’s holdings in Royalty Pharma were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. USA Financial Formulas acquired a new stake in Royalty Pharma in the 2nd quarter valued at $32,000. Summit Securities Group LLC bought a new position in shares of Royalty Pharma during the first quarter valued at $36,000. WPG Advisers LLC acquired a new stake in shares of Royalty Pharma in the 1st quarter valued at $39,000. Allworth Financial LP grew its holdings in shares of Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 452 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Royalty Pharma by 42.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 402 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RPRX has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Citigroup lifted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Wall Street Zen raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. The Goldman Sachs Group started coverage on Royalty Pharma in a report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price target for the company. Finally, Weiss Ratings lowered Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $46.00.

Royalty Pharma Price Performance

RPRX opened at $38.56 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a market capitalization of $22.49 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 2.03 and a beta of 0.56. The company’s 50 day simple moving average is $36.50 and its 200-day simple moving average is $35.48. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $41.24.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.06. The firm had revenue of $609.29 million during the quarter, compared to analysts’ expectations of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. Sell-side analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, November 14th. Royalty Pharma’s dividend payout ratio is 66.67%.

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.