LPL Financial LLC Raises Position in Royalty Pharma PLC $RPRX

LPL Financial LLC lifted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 189.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,141 shares of the biopharmaceutical company’s stock after buying an additional 45,236 shares during the quarter. LPL Financial LLC’s holdings in Royalty Pharma were worth $2,152,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RPRX. Adage Capital Partners GP L.L.C. raised its stake in shares of Royalty Pharma by 42.6% during 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 period. Two Sigma Advisers LP grew its holdings in Royalty Pharma by 21.1% during the 4th quarter. Two Sigma Advisers LP now owns 3,673,200 shares of the biopharmaceutical company’s stock valued at $93,703,000 after purchasing an additional 640,000 shares in the last quarter. Victory Capital Management Inc. increased its stake in 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 during the period. Northern Trust Corp lifted its holdings in Royalty Pharma by 12.8% in the 4th quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company’s stock worth $84,959,000 after buying an additional 376,619 shares in the last quarter. Finally, GMT Capital Corp boosted its position in Royalty Pharma by 5.5% in the 4th quarter. GMT Capital Corp now owns 3,267,700 shares of the biopharmaceutical company’s stock valued at $83,359,000 after buying an additional 170,200 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RPRX shares. Citigroup lifted their target price on Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Morgan Stanley increased their target price on Royalty Pharma from $51.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.00.

Royalty Pharma Stock Up 0.2%

Shares of NASDAQ:RPRX opened at $36.00 on Wednesday. The company’s fifty day moving average is $36.07 and its two-hundred day moving average is $33.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $38.00. The stock has a market capitalization of $20.99 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.34 and a beta of 0.55.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The firm had revenue of $578.67 million for the quarter, compared to analysts’ expectations of $750.06 million. Equities analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 15th. Royalty Pharma’s dividend payout ratio is presently 50.87%.

About Royalty Pharma

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.