Royalty Pharma PLC $RPRX Stock Position Decreased by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB lowered its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 24.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 258,500 shares of the biopharmaceutical company’s stock after selling 85,500 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Royalty Pharma were worth $9,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of Royalty Pharma by 868.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 790 shares during the period. Financial Consulate Inc. bought a new position in Royalty Pharma during the 3rd quarter worth $35,000. Richardson Financial Services Inc. bought a new position in Royalty Pharma during the 3rd quarter worth $54,000. Farther Finance Advisors LLC increased its position in Royalty Pharma by 44.3% in the third quarter. Farther Finance Advisors LLC now owns 2,060 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 632 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Royalty Pharma by 16.9% in the third quarter. Fifth Third Bancorp now owns 2,499 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 362 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Royalty Pharma

In related news, EVP Marshall Urist sold 20,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Terrance P. Coyne sold 34,791 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was 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 $2,140,699.58. The trade was a 43.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 737,078 shares of company stock valued at $29,862,002 over the last ninety days. Insiders own 18.90% of the company’s stock.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of analyst reports. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 12th. Leerink Partners set a $45.00 price target on shares of Royalty Pharma in a research note on Thursday, December 11th. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Friday, January 30th. Citigroup boosted their price objective on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Finally, Morgan Stanley restated an “overweight” rating and issued a $61.00 target price on shares of Royalty Pharma in a research report on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and an average target price of $48.67.

Royalty Pharma Stock Performance

RPRX opened at $45.41 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The firm has a market cap of $26.20 billion, a PE ratio of 33.64 and a beta of 0.40. The business has a fifty day simple moving average of $42.54 and a 200-day simple moving average of $39.22. Royalty Pharma PLC has a fifty-two week low of $29.66 and a fifty-two week high of $47.86.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%.The company had revenue of $621.99 million for the quarter, compared to analyst estimates of $839.97 million. As a group, equities analysts predict that Royalty Pharma PLC will post 4.49 EPS 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. Shareholders of record on Friday, February 20th will be paid a dividend of $0.235 per share. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 20th. Royalty Pharma’s payout ratio is currently 69.63%.

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.