Arrowstreet Capital Limited Partnership Acquires 1,615,706 Shares of Royalty Pharma PLC $RPRX

Arrowstreet Capital Limited Partnership boosted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 118.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,976,480 shares of the biopharmaceutical company’s stock after buying an additional 1,615,706 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Royalty Pharma were worth $107,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of Royalty Pharma by 603.9% in the 2nd quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock valued at $23,701,000 after purchasing an additional 562,799 shares during the period. Cookson Peirce & Co. Inc. boosted its position in shares of Royalty Pharma by 55.1% during the second quarter. Cookson Peirce & Co. Inc. now owns 34,263 shares of the biopharmaceutical company’s stock worth $1,234,000 after buying an additional 12,171 shares during the period. Creative Planning grew its holdings in shares of Royalty Pharma by 22.7% during the second quarter. Creative Planning now owns 52,553 shares of the biopharmaceutical company’s stock worth $1,893,000 after buying an additional 9,718 shares in the last quarter. Sierra Summit Advisors LLC acquired a new stake in Royalty Pharma in the 2nd quarter valued at approximately $698,000. Finally, Koss Olinger Consulting LLC raised its position in Royalty Pharma by 201.5% in the 1st quarter. Koss Olinger Consulting LLC now owns 31,756 shares of the biopharmaceutical company’s stock valued at $989,000 after buying an additional 21,225 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Trading Up 0.2%

Shares of NASDAQ:RPRX opened at $39.60 on Thursday. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $41.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The company has a market capitalization of $22.86 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 2.08 and a beta of 0.47. The company has a 50-day simple moving average of $37.68 and a 200 day simple moving average of $36.29.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly 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. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%.The firm had revenue of $609.29 million for the quarter, compared to the consensus estimate of $765.01 million. Sell-side analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 annualized dividend and a yield of 2.2%. Royalty Pharma’s dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analyst Weigh In

RPRX has been the subject of several research reports. Wall Street Zen cut shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. The Goldman Sachs Group assumed coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price for the company. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Morgan Stanley cut their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Finally, TD Cowen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Royalty Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, EVP George W. Lloyd sold 132,426 shares of Royalty Pharma stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $38.34, for a total transaction of $5,077,212.84. 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 23,333 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $39.93, for a total transaction of $931,686.69. Following the completion of the transaction, the executive vice president directly owned 183,334 shares in the company, valued at $7,320,526.62. The trade was a 11.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 455,353 shares of company stock valued at $17,778,484 in the last quarter. 18.90% of the stock is currently owned by insiders.

About Royalty Pharma

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.