Eventide Asset Management LLC Buys 41,830 Shares of Royalty Pharma PLC $RPRX

Eventide Asset Management LLC boosted its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 921,639 shares of the biopharmaceutical company’s stock after purchasing an additional 41,830 shares during the period. Eventide Asset Management LLC owned about 0.16% of Royalty Pharma worth $33,439,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RPRX. USA Financial Formulas purchased a new position in shares of Royalty Pharma in the second quarter worth $32,000. Summit Securities Group LLC bought a new stake in Royalty Pharma in the 1st quarter worth $36,000. WPG Advisers LLC bought a new stake in Royalty Pharma in the 1st quarter worth $39,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Royalty Pharma by 42.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 402 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Royalty Pharma by 113.8% during the second quarter. Farther Finance Advisors LLC now owns 1,428 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 760 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Insider Buying and Selling at Royalty Pharma

In other news, EVP George W. Lloyd sold 132,426 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total value of $5,077,212.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marshall Urist sold 23,334 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $39.15, for a total value of $913,526.10. Following the completion of the sale, the executive vice president owned 160,000 shares in the company, valued at $6,264,000. The trade was a 12.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 606,929 shares of company stock valued at $23,780,885. Corporate insiders own 18.90% of the company’s stock.

Royalty Pharma Stock Down 1.1%

RPRX stock opened at $38.39 on Friday. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $41.24. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47. The business’s 50 day moving average price is $38.12 and its two-hundred day moving average price is $36.55. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48.

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

Royalty Pharma Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on RPRX. Morgan Stanley cut their target price on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Weiss Ratings cut Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Leerink Partners set a $45.00 price objective on Royalty Pharma in a research report on Thursday. TD Cowen upped their target price on Royalty Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. Finally, Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Thursday. 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, Royalty Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $45.60.

Royalty Pharma Company 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.