Calamos Advisors LLC Takes $20.97 Million Position in Royalty Pharma PLC $RPRX

Calamos Advisors LLC acquired a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 437,090 shares of the biopharmaceutical company’s stock, valued at approximately $20,967,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Morgan Stanley lifted its stake in Royalty Pharma by 25.2% in the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock valued at $2,135,790,000 after purchasing an additional 11,110,115 shares during the last quarter. Capital International Investors grew its holdings in Royalty Pharma by 14.3% during the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock worth $1,201,870,000 after purchasing an additional 3,891,615 shares during the period. State Street Corp increased its position in Royalty Pharma by 3.7% during the fourth quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock worth $411,502,000 after buying an additional 376,888 shares during the last quarter. Geode Capital Management LLC increased its position in Royalty Pharma by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after buying an additional 102,430 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Royalty Pharma by 9.7% in the fourth quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock valued at $197,331,000 after buying an additional 449,498 shares during the period. 54.35% of the stock is owned by institutional investors.

Insider Transactions at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total value 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 427,800 shares of company stock worth $23,333,723 in the last ninety days. 18.84% of the stock is currently owned by company insiders.

Royalty Pharma Stock Down 1.4%

Shares of RPRX opened at $55.67 on Wednesday. The firm has a market cap of $32.06 billion, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 10.02 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $58.84. The firm’s 50-day simple moving average is $54.58 and its 200 day simple moving average is $48.20.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million during the quarter, compared to the consensus estimate of $881.69 million. On average, analysts forecast that Royalty Pharma PLC will post 5.17 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently announced 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. The ex-dividend date was 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 (DPR) is 63.95%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RPRX. Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. TD Cowen boosted their target price on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Monday. Citigroup increased their price target on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley raised their price target on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Finally, Wall Street Zen raised shares of 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, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $56.57.

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.