Royalty Pharma PLC $RPRX Holdings Raised by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 31.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,065,103 shares of the biopharmaceutical company’s stock after acquiring an additional 253,379 shares during the period. BNP Paribas Financial Markets’ holdings in Royalty Pharma were worth $41,156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RPRX. Forsta AP Fonden grew its holdings in Royalty Pharma by 8.5% during the fourth quarter. Forsta AP Fonden now owns 71,400 shares of the biopharmaceutical company’s stock worth $2,759,000 after acquiring an additional 5,600 shares during the period. Norges Bank acquired a new position in Royalty Pharma during the fourth quarter worth about $131,923,000. Hillsdale Investment Management Inc. grew its holdings in Royalty Pharma by 5,266.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,150 shares of the biopharmaceutical company’s stock worth $933,000 after acquiring an additional 23,700 shares during the period. Fideuram Asset Management Ireland dac acquired a new position in Royalty Pharma during the fourth quarter worth about $413,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Royalty Pharma during the fourth quarter worth about $9,063,000. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. UBS Group lifted their target price on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Citigroup lifted their target price on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $53.71.

Insider Activity

In other Royalty Pharma news, EVP Marshall Urist sold 13,684 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.06, for a total value of $726,073.04. Following the transaction, the executive vice president directly owned 31,881 shares of the company’s stock, valued at $1,691,605.86. This represents a 30.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 199,185 shares of company stock worth $10,082,926 in the last 90 days. Company insiders own 18.84% of the company’s stock.

Royalty Pharma Price Performance

RPRX stock opened at $54.97 on Thursday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a one year low of $33.25 and a one year high of $56.07. The firm has a market capitalization of $31.65 billion, a PE ratio of 37.39, a P/E/G ratio of 1.48 and a beta of 0.43. The firm has a 50-day moving average of $50.44 and a two-hundred day moving average of $44.82.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results 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 company had revenue of $630.58 million for 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%. On average, analysts forecast that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $0.235 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. Royalty Pharma’s dividend payout ratio 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.