Alpine Global Management LLC Makes New Investment in Royalty Pharma PLC $RPRX

Alpine Global Management LLC bought a new position in Royalty Pharma PLC (NASDAQ:RPRX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 14,541 shares of the biopharmaceutical company’s stock, valued at approximately $513,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RPRX. Smartleaf Asset Management LLC increased its stake in shares of Royalty Pharma by 868.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 790 shares in the last quarter. Financial Consulate Inc. bought a new stake in Royalty Pharma during the third quarter worth about $35,000. Larson Financial Group LLC boosted its stake in Royalty Pharma by 31.9% during the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 306 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in Royalty Pharma in the third quarter worth about $54,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Royalty Pharma by 44.3% during the third quarter. Farther Finance Advisors LLC now owns 2,060 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RPRX shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Leerink Partners set a $45.00 price objective on Royalty Pharma in a research note on Thursday, December 11th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Citigroup increased their target price on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, UBS Group upgraded Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a report on Friday, January 30th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and a consensus target price of $48.67.

Royalty Pharma Stock Up 0.0%

RPRX stock opened at $46.11 on Wednesday. Royalty Pharma PLC has a one year low of $29.66 and a one year high of $47.86. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. The firm’s fifty day moving average is $43.49 and its 200 day moving average is $39.73. The firm has a market cap of $26.60 billion, a PE ratio of 34.16 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping 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 business had revenue of $621.99 million during the quarter, compared to the consensus estimate of $839.97 million. On average, research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were given a dividend of $0.235 per share. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, February 20th. Royalty Pharma’s dividend payout ratio (DPR) is currently 69.63%.

Insider Activity at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 34,791 shares of Royalty Pharma stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $46.78, for a total value of $1,627,522.98. Following the sale, the chief financial officer owned 45,761 shares of the company’s stock, valued at approximately $2,140,699.58. This trade represents a 43.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marshall Urist sold 20,000 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $41.09, for a total transaction of $821,800.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 568,150 shares of company stock worth $23,366,062. 18.90% of the stock is owned by corporate insiders.

About Royalty Pharma

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.