AlTi Global Inc. Sells 25,554 Shares of Royalty Pharma PLC $RPRX

AlTi Global Inc. decreased its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 50.5% during the first quarter, HoldingsChannel.com reports. The fund owned 25,073 shares of the biopharmaceutical company’s stock after selling 25,554 shares during the period. AlTi Global Inc.’s holdings in Royalty Pharma were worth $1,203,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Barton Investment Management acquired a new position in Royalty Pharma during the 1st quarter valued at about $905,000. Nomura Asset Management Co. Ltd. grew its position in shares of Royalty Pharma by 16.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock worth $6,662,000 after buying an additional 24,048 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Royalty Pharma during the fourth quarter worth approximately $4,923,000. Qsemble Capital Management LP acquired a new position in Royalty Pharma in the fourth quarter valued at approximately $2,875,000. Finally, Nordea Investment Management AB lifted its holdings in Royalty Pharma by 4.7% in the fourth quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock valued at $31,604,000 after buying an additional 36,664 shares during the period. 54.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Terrance P. Coyne sold 64,399 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 427,800 shares of company stock valued at $23,333,723 over the last ninety days. 18.84% of the stock is owned by insiders.

Royalty Pharma Trading Down 1.5%

Shares of NASDAQ RPRX opened at $57.29 on Tuesday. Royalty Pharma PLC has a twelve month low of $34.08 and a twelve month high of $59.44. The stock has a market cap of $32.99 billion, a price-to-earnings ratio of 38.97, a P/E/G ratio of 10.30 and a beta of 0.43. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The company’s fifty day moving average is $55.12 and its 200-day moving average is $48.72.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts predict that Royalty Pharma PLC will post 5.18 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s dividend payout ratio is 63.95%.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. JPMorgan Chase & Co. raised their price target on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Morgan Stanley upped their price objective on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, April 10th. UBS Group increased their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Citigroup raised 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. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $56.57.

Royalty Pharma Company 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.