Envestnet Asset Management Inc. Purchases 339,839 Shares of Royalty Pharma PLC $RPRX

Envestnet Asset Management Inc. lifted its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 348.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 437,451 shares of the biopharmaceutical company’s stock after purchasing an additional 339,839 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Royalty Pharma worth $15,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RPRX. Royal Bank of Canada lifted its holdings in Royalty Pharma by 367.7% during the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock worth $6,342,000 after buying an additional 160,191 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Royalty Pharma by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock worth $2,490,000 after acquiring an additional 13,489 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Royalty Pharma in the first quarter worth approximately $264,000. Intech Investment Management LLC boosted its holdings in Royalty Pharma by 41.0% in the first quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after acquiring an additional 13,951 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Royalty Pharma during the 2nd quarter valued at approximately $233,000. Institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RPRX. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. Morgan Stanley restated an “overweight” rating and issued a $61.00 target price on shares of Royalty Pharma in a report on Thursday. Leerink Partners set a $45.00 price target on shares of Royalty Pharma in a research report on Thursday, December 11th. The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a report on Thursday. Finally, UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Friday, January 30th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $48.67.

Insider Transactions at Royalty Pharma

In other Royalty Pharma news, EVP Marshall Urist sold 20,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $41.09, for a total transaction of $821,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Terrance P. Coyne sold 20,163 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $43.29, for a total value of $872,856.27. Following the completion of the transaction, the chief financial officer directly owned 22,885 shares of the company’s stock, valued at $990,691.65. The trade was a 46.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,170,028 shares of company stock worth $46,545,276 over the last 90 days. 18.90% of the stock is currently owned by company insiders.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $45.19 on Monday. The company has a market cap of $26.09 billion, a PE ratio of 33.47 and a beta of 0.42. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 52 week low of $29.66 and a 52 week high of $45.91. The business has a 50 day moving average price of $40.40 and a 200-day moving average price of $38.28.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. The company had revenue of $621.99 million for the quarter, compared to analyst estimates of $839.97 million. Equities analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 20th will be issued a $0.235 dividend. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.94 annualized dividend and a yield of 2.1%. Royalty Pharma’s payout ratio is 65.19%.

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.