Bleakley Financial Group LLC Invests $391,000 in Royalty Pharma PLC $RPRX

Bleakley Financial Group LLC purchased a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,120 shares of the biopharmaceutical company’s stock, valued at approximately $391,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lloyd Advisory Services LLC. bought a new position in shares of Royalty Pharma during the 4th quarter worth $30,000. Private Trust Co. NA boosted its position in Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 288 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Royalty Pharma by 868.1% during the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 790 shares in the last quarter. Larson Financial Group LLC boosted its position 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 valued at $45,000 after purchasing an additional 306 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Royalty Pharma by 16.9% during the third quarter. Fifth Third Bancorp now owns 2,499 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 362 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup raised their price objective on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. raised their price objective on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $53.71.

Insiders Place Their Bets

In other Royalty Pharma news, Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the sale, the director owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total value of $721,831.00. Following the completion of the sale, the executive vice president directly owned 18,197 shares of the company’s stock, valued at approximately $959,891.75. This represents a 42.92% 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. Over the last 90 days, insiders sold 233,976 shares of company stock valued at $11,710,449. 18.84% of the stock is currently owned by corporate insiders.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $55.76 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $32.11 billion, a PE ratio of 37.93, a P/E/G ratio of 1.53 and a beta of 0.40. The business has a 50-day simple moving average of $49.89 and a two-hundred day simple moving average of $44.46. Royalty Pharma PLC has a fifty-two week low of $32.29 and a fifty-two week high of $56.07.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. The business had revenue of $630.58 million during the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. As a group, equities analysts expect that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

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.