Los Angeles Capital Management LLC Raises Position in Royalty Pharma PLC $RPRX

Los Angeles Capital Management LLC lifted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,229,036 shares of the biopharmaceutical company’s stock after purchasing an additional 212,294 shares during the period. Los Angeles Capital Management LLC’s holdings in Royalty Pharma were worth $45,401,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its position in shares of Royalty Pharma by 16.2% in the fourth 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 in the last quarter. Regal Partners Ltd raised its position in shares of Royalty Pharma by 6.7% in the third quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock worth $50,631,000 after buying an additional 89,930 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Royalty Pharma by 4.7% in the fourth quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock worth $31,604,000 after buying an additional 36,664 shares in the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Royalty Pharma in the fourth quarter worth $2,875,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Royalty Pharma in the fourth quarter worth $4,923,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $55.87 on Friday. 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 has a market capitalization of $32.17 billion, a PE ratio of 38.01, a P/E/G ratio of 1.54 and a beta of 0.43. The firm has a fifty day simple moving average of $50.81 and a two-hundred day simple moving average of $45.01. Royalty Pharma PLC has a twelve month low of $33.37 and a twelve month high of $56.07.

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, 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 net margin of 33.88% and a return on equity of 29.25%. Research analysts expect that Royalty Pharma PLC will post 5.05 EPS for the current year.

Royalty Pharma Announces Dividend

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 paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.94 annualized dividend and a yield of 1.7%. Royalty Pharma’s payout ratio is currently 63.95%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup increased their price objective on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. increased their price objective on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $53.71.

Insiders Place Their Bets

In other Royalty Pharma news, Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the sale, the director directly owned 191,803 shares of the company’s stock, valued at $10,165,559. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total transaction 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 $959,891.75. This represents a 42.92% decrease in their ownership of the stock. 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. Insiders sold 199,185 shares of company stock valued at $10,082,926 over the last three months. Insiders own 18.84% of the company’s stock.

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.