OMERS ADMINISTRATION Corp Buys 9,712 Shares of Royalty Pharma PLC $RPRX

OMERS ADMINISTRATION Corp raised its stake in Royalty Pharma PLC (NASDAQ:RPRXFree Report) by 14.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,307 shares of the biopharmaceutical company’s stock after acquiring an additional 9,712 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Royalty Pharma were worth $3,804,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Lombard Odier Asset Management Switzerland SA bought a new stake in shares of Royalty Pharma during the first quarter worth approximately $342,000. Dorsey Asset Management LLC grew its position in shares of Royalty Pharma by 0.8% in the first quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock valued at $109,207,000 after purchasing an additional 17,101 shares during the last quarter. Cumberland Partners Ltd increased its stake in shares of Royalty Pharma by 42.9% during the first quarter. Cumberland Partners Ltd now owns 50,000 shares of the biopharmaceutical company’s stock worth $2,398,000 after purchasing an additional 15,000 shares during the period. Renaissance Technologies LLC bought a new position in shares of Royalty Pharma during the first quarter worth approximately $37,941,000. Finally, Gabelli Funds LLC acquired a new stake in Royalty Pharma during the 1st quarter worth approximately $271,000. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Citigroup lifted their target price on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Morgan Stanley boosted their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Finally, TD Cowen raised their price target on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $56.57.

View Our Latest Stock Report on RPRX

Royalty Pharma Trading Down 0.2%

Shares of RPRX stock opened at $58.73 on Tuesday. The stock has a market cap of $33.82 billion, a P/E ratio of 39.95, a price-to-earnings-growth ratio of 10.42 and a beta of 0.43. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $59.72. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. The stock has a 50 day simple moving average of $55.73 and a 200 day simple moving average of $49.40.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The firm had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, research analysts predict that Royalty Pharma PLC will post 5.18 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a $0.235 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio (DPR) is presently 63.95%.

Insider Buying and Selling

In related news, Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the transaction, the director owned 191,803 shares of the company’s stock, valued at $10,165,559. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 393,009 shares of company stock worth $21,601,827 over the last three months. Company insiders own 18.84% of the company’s stock.

About Royalty Pharma

(Free Report)

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.

See Also

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Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)

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