Y Intercept Hong Kong Ltd grew its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX – Free Report) by 1,294.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,339 shares of the biopharmaceutical company’s stock after buying an additional 68,079 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Royalty Pharma were worth $3,518,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in RPRX. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Royalty Pharma by 42.2% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 168,250 shares of the biopharmaceutical company’s stock worth $8,071,000 after purchasing an additional 49,900 shares during the last quarter. Keybank National Association OH grew its stake in Royalty Pharma by 17.2% in the 1st quarter. Keybank National Association OH now owns 45,394 shares of the biopharmaceutical company’s stock worth $2,178,000 after acquiring an additional 6,668 shares during the period. CHICAGO TRUST Co NA acquired a new position in Royalty Pharma in the 1st quarter valued at $258,000. USS Investment Management Ltd raised its holdings in Royalty Pharma by 21.2% in the 1st quarter. USS Investment Management Ltd now owns 122,359 shares of the biopharmaceutical company’s stock valued at $5,870,000 after acquiring an additional 21,417 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in shares of Royalty Pharma by 3.3% during the first quarter. IFM Investors Pty Ltd now owns 120,803 shares of the biopharmaceutical company’s stock worth $5,795,000 after purchasing an additional 3,819 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.
Royalty Pharma Price Performance
Royalty Pharma stock traded up $0.86 during mid-day trading on Tuesday, hitting $57.78. The company’s stock had a trading volume of 661,987 shares, compared to its average volume of 3,676,533. The stock has a market capitalization of $33.27 billion, a P/E ratio of 39.31, a P/E/G ratio of 1.59 and a beta of 0.43. Royalty Pharma PLC has a twelve month low of $34.08 and a twelve month high of $58.18. The stock’s fifty day moving average price is $53.70 and its two-hundred day moving average price is $47.43. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86.
Royalty Pharma Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a dividend of $0.235 per share. The ex-dividend date was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s payout ratio is currently 63.95%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on RPRX. UBS Group upped their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Morgan Stanley boosted their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. JPMorgan Chase & Co. raised their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Finally, Citigroup boosted their price target on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $53.71.
Get Our Latest Stock Analysis on Royalty Pharma
Insider Activity
In other Royalty Pharma news, EVP Marshall Urist sold 9,099 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total transaction of $508,452.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value 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 427,800 shares of company stock worth $23,333,723 over the last three months. 18.84% of the stock is owned by insiders.
Royalty Pharma Profile
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.
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