ABN Amro Investment Solutions Purchases New Shares in Royalty Pharma PLC $RPRX

ABN Amro Investment Solutions purchased a new stake in Royalty Pharma PLC (NASDAQ:RPRX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,130 shares of the biopharmaceutical company’s stock, valued at approximately $1,541,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of Royalty Pharma by 19.5% during the first quarter. PNC Financial Services Group Inc. now owns 15,931 shares of the biopharmaceutical company’s stock worth $764,000 after buying an additional 2,597 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new position in shares of Royalty Pharma in the 1st quarter worth about $95,000. Andra AP fonden bought a new stake in Royalty Pharma in the first quarter valued at $8,515,000. Meeder Advisory Services Inc. increased its position in shares of Royalty Pharma by 2.8% during the first quarter. Meeder Advisory Services Inc. now owns 18,948 shares of the biopharmaceutical company’s stock worth $909,000 after acquiring an additional 517 shares in the last quarter. Finally, SEB Asset Management AB purchased a new stake in shares of Royalty Pharma in the first quarter worth approximately $12,967,000. Institutional investors own 54.35% of the company’s stock.

Insider Activity at Royalty Pharma

In other news, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $53.06, for a total transaction of $726,073.04. Following the completion of the sale, the executive vice president directly owned 31,881 shares in the company, valued at approximately $1,691,605.86. The trade was a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the sale, the executive vice president owned 559,399 shares in the company, valued at $30,431,305.60. The trade was a 21.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 427,800 shares of company stock worth $23,333,723. Corporate insiders own 18.84% of the company’s stock.

Royalty Pharma Trading Down 0.3%

Shares of RPRX stock opened at $58.83 on Friday. The stock’s 50-day moving average price is $55.60 and its 200-day moving average price is $49.21. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $33.88 billion, a price-to-earnings ratio of 40.02, a price-to-earnings-growth ratio of 10.45 and a beta of 0.43. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $59.72.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $630.58 million for the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. Equities research analysts predict that Royalty Pharma PLC will post 5.18 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s payout ratio is currently 63.95%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RPRX. Citigroup upped their target price on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. UBS Group increased their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their target price on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, TD Cowen lifted their price objective on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $56.57.

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.