Collaborative Fund Advisors LLC Acquires New Stake in Royalty Pharma PLC $RPRX

Collaborative Fund Advisors LLC acquired a new stake in Royalty Pharma PLC (NASDAQ:RPRX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,103 shares of the biopharmaceutical company’s stock, valued at approximately $724,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of Royalty Pharma by 25.2% during the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after buying an additional 11,110,115 shares in the last quarter. Capital International Investors lifted its stake in shares of Royalty Pharma by 24.4% in the third quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after buying an additional 5,332,074 shares in the last quarter. Norges Bank acquired a new position in Royalty Pharma during the fourth quarter worth about $131,923,000. Dorsey Asset Management LLC acquired a new position in Royalty Pharma during the third quarter worth about $82,924,000. Finally, Qube Research & Technologies Ltd grew its stake in Royalty Pharma by 737.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock valued at $87,557,000 after acquiring an additional 2,185,366 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

RPRX has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. UBS Group boosted 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. Weiss Ratings lowered Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Citigroup increased their price target on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Royalty Pharma presently has a consensus rating of “Buy” and an average price target of $53.71.

Insiders Place Their Bets

In other Royalty Pharma news, EVP Christopher Hite sold 150,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the sale, the executive vice president owned 559,399 shares of the company’s stock, valued at $30,431,305.60. This trade represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 427,800 shares of company stock valued at $23,333,723. 18.84% of the stock is currently owned by insiders.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $57.77 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $33.27 billion, a PE ratio of 39.30, a price-to-earnings-growth ratio of 1.59 and a beta of 0.43. The firm’s 50-day moving average is $53.56 and its two-hundred day moving average is $47.30. Royalty Pharma PLC has a 12 month low of $34.08 and a 12 month high of $57.80.

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

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, May 15th. Royalty Pharma’s dividend payout ratio is presently 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.