Balyasny Asset Management L.P. Purchases Shares of 59,755 Royalty Pharma plc (NASDAQ:RPRX)

Balyasny Asset Management L.P. purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,755 shares of the biopharmaceutical company’s stock, valued at approximately $1,524,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. increased its stake in Royalty Pharma by 42.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company’s stock valued at $432,862,000 after purchasing an additional 5,069,127 shares during the last quarter. Swedbank AB increased its stake in Royalty Pharma by 10.3% in the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock valued at $310,308,000 after purchasing an additional 1,136,800 shares during the last quarter. Geode Capital Management LLC increased its stake in Royalty Pharma by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company’s stock valued at $186,846,000 after purchasing an additional 46,765 shares during the last quarter. Norges Bank purchased a new position in Royalty Pharma in the fourth quarter valued at approximately $124,498,000. Finally, Northern Trust Corp increased its stake in Royalty Pharma by 12.8% in the fourth quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company’s stock valued at $84,959,000 after purchasing an additional 376,619 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Shares of RPRX opened at $32.82 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market cap of $18.92 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. The company’s 50 day simple moving average is $32.37 and its 200-day simple moving average is $29.86. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $34.20.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, equities analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, May 16th. Royalty Pharma’s dividend payout ratio is presently 47.57%.

Wall Street Analyst Weigh In

RPRX has been the topic of several recent analyst reports. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Monday. Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and a consensus price target of $42.50.

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.