Adage Capital Partners GP L.L.C. Decreases Stock Holdings in Royalty Pharma PLC $RPRX

Adage Capital Partners GP L.L.C. lowered its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,000,000 shares of the biopharmaceutical company’s stock after selling 250,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 1.07% of Royalty Pharma worth $216,180,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its stake in shares of Royalty Pharma by 7.1% during the 2nd quarter. State Street Corp now owns 10,194,938 shares of the biopharmaceutical company’s stock worth $367,324,000 after purchasing an additional 678,810 shares during the period. Geode Capital Management LLC increased its holdings in Royalty Pharma by 2.2% during the second quarter. Geode Capital Management LLC now owns 8,176,504 shares of the biopharmaceutical company’s stock worth $299,494,000 after buying an additional 177,036 shares during the last quarter. Norges Bank purchased a new stake in Royalty Pharma during the second quarter worth about $181,388,000. Patient Capital Management LLC raised its position in Royalty Pharma by 0.5% in the second quarter. Patient Capital Management LLC now owns 2,987,988 shares of the biopharmaceutical company’s stock worth $107,657,000 after acquiring an additional 15,342 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Royalty Pharma by 118.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,976,480 shares of the biopharmaceutical company’s stock valued at $107,243,000 after acquiring an additional 1,615,706 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Insider Transactions at Royalty Pharma

In related news, EVP Marshall Urist sold 23,334 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $39.15, for a total transaction of $913,526.10. Following the completion of the transaction, the executive vice president directly owned 160,000 shares in the company, valued at $6,264,000. The trade was a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George W. Lloyd sold 132,426 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total value of $5,077,212.84. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 606,929 shares of company stock valued at $23,780,885. 18.90% of the stock is currently owned by company insiders.

Royalty Pharma Stock Down 1.1%

Royalty Pharma stock opened at $38.39 on Friday. The firm has a 50 day simple moving average of $38.12 and a 200 day simple moving average of $36.55. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.89. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $41.24. The firm has a market capitalization of $22.16 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 2.05 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The firm had revenue of $609.29 million during the quarter, compared to analyst estimates of $765.01 million. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%. On average, analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, November 14th. Royalty Pharma’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RPRX. TD Cowen raised their price target on shares of Royalty Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group initiated coverage on Royalty Pharma in a report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price objective for the company. Cowen reissued a “buy” rating on shares of Royalty Pharma in a research report on Thursday. Leerink Partners set a $45.00 price target on Royalty Pharma in a research report on Thursday. Finally, Weiss Ratings downgraded Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.60.

Royalty Pharma 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.