L2 Asset Management LLC Buys 53,539 Shares of Royalty Pharma PLC $RPRX

L2 Asset Management LLC grew its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 58.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 145,754 shares of the biopharmaceutical company’s stock after acquiring an additional 53,539 shares during the quarter. L2 Asset Management LLC’s holdings in Royalty Pharma were worth $5,632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. LM Advisors LLC bought a new stake in shares of Royalty Pharma in the 4th quarter valued at about $26,000. Lloyd Advisory Services LLC. bought a new stake in shares of Royalty Pharma in the 4th quarter valued at about $30,000. Private Trust Co. NA grew its stake in Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 288 shares during the period. Smartleaf Asset Management LLC grew its stake in Royalty Pharma by 868.1% in the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 790 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in Royalty Pharma by 66.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 446 shares during the period. 54.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RPRX shares. Citigroup boosted their target price on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. UBS Group boosted 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, Morgan Stanley boosted their target price on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and an average price target of $53.71.

Insider Transactions at Royalty Pharma

In other news, Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the transaction, the director directly owned 191,803 shares of the company’s stock, valued at $10,165,559. This trade represents a 1.56% decrease in their position. The sale 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 the firm’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 transaction 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 sold 199,185 shares of company stock valued at $10,082,926 in the last ninety days. 18.84% of the stock is currently owned by corporate insiders.

Royalty Pharma Stock Down 1.1%

NASDAQ:RPRX opened at $54.27 on Tuesday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. The stock has a market cap of $31.25 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 1.51 and a beta of 0.43. The stock has a 50-day moving average price of $51.71 and a two-hundred day moving average price of $45.72. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $56.50.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data 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 company had revenue of $630.58 million during the quarter, compared to analysts’ expectations 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 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was 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.