Regal Partners Ltd Sells 16,236 Shares of Royalty Pharma PLC $RPRX

Regal Partners Ltd lowered its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,624,472 shares of the biopharmaceutical company’s stock after selling 16,236 shares during the period. Royalty Pharma makes up 6.8% of Regal Partners Ltd’s holdings, making the stock its 6th largest position. Regal Partners Ltd owned approximately 0.46% of Royalty Pharma worth $125,896,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Barton Investment Management acquired a new position in shares of Royalty Pharma during the first quarter valued at approximately $905,000. Nomura Asset Management Co. Ltd. boosted its stake in 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 valued at $6,662,000 after purchasing an additional 24,048 shares in the last quarter. Qsemble Capital Management LP acquired a new position in shares of Royalty Pharma during the 4th quarter valued at $2,875,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Royalty Pharma during the 4th quarter valued at $4,923,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Royalty Pharma by 10.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 233,320 shares of the biopharmaceutical company’s stock worth $9,016,000 after buying an additional 22,015 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price 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 lifted their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Finally, Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma currently has an average rating of “Buy” and a consensus price target of $56.57.

Insider Buying and Selling

In related news, 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 value of $3,476,258.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 that occurred on Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total value of $721,831.00. Following the completion of the sale, the executive vice president owned 18,197 shares of the company’s stock, valued at approximately $959,891.75. This trade represents a 42.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 393,009 shares of company stock worth $21,601,827. Insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Up 2.1%

Royalty Pharma stock opened at $59.97 on Wednesday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a 1-year low of $34.08 and a 1-year high of $60.08. The firm’s fifty day simple moving average is $55.88 and its 200-day simple moving average is $49.54. The company has a market capitalization of $34.53 billion, a P/E ratio of 40.80, a P/E/G ratio of 10.40 and a beta of 0.43.

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 analysts’ consensus estimates of $1.22 by $0.08. The firm 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%. Sell-side analysts forecast that Royalty Pharma PLC will post 5.18 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio 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.