Jupiter Asset Management Ltd. Grows Position in Royalty Pharma PLC $RPRX

Jupiter Asset Management Ltd. lifted its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 126.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,470,706 shares of the biopharmaceutical company’s stock after purchasing an additional 1,380,115 shares during the period. Royalty Pharma accounts for about 0.7% of Jupiter Asset Management Ltd.’s holdings, making the stock its 27th biggest position. Jupiter Asset Management Ltd.’s holdings in Royalty Pharma were worth $89,020,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RPRX. Victory Capital Management Inc. lifted its position in shares of Royalty Pharma by 270.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock worth $112,788,000 after buying an additional 2,644,923 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Royalty Pharma by 2,543.7% during the first quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company’s stock worth $33,656,000 after acquiring an additional 1,040,234 shares during the period. Nuveen LLC purchased a new position in Royalty Pharma in the first quarter worth $27,749,000. AQR Capital Management LLC grew its stake in Royalty Pharma by 37.0% in the 1st quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock valued at $80,381,000 after purchasing an additional 704,414 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Royalty Pharma by 603.9% during the 2nd quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock valued at $23,701,000 after purchasing an additional 562,799 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Trading Up 1.1%

Shares of RPRX stock opened at $38.96 on Wednesday. The company has a market capitalization of $22.72 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.56. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $41.24. The business’s fifty day moving average is $36.60 and its 200 day moving average is $35.57. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $609.29 million for the quarter, compared to the consensus estimate of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. On average, equities research analysts anticipate that Royalty Pharma PLC will post 4.49 EPS 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. Stockholders of record on Friday, November 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, November 14th. Royalty Pharma’s payout ratio is 66.67%.

Analyst Upgrades and Downgrades

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

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.