Gateway Wealth Partners LLC Purchases Shares of 11,774 Royalty Pharma PLC $RPRX

Gateway Wealth Partners LLC acquired a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,774 shares of the biopharmaceutical company’s stock, valued at approximately $565,000.

A number of other large investors have also recently made changes to their positions in the business. Phillips Wealth Planners LLC increased its position in shares of Royalty Pharma by 1.9% during the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after acquiring an additional 242 shares in the last quarter. Strs Ohio lifted its position in Royalty Pharma by 2.8% in the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 252 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after acquiring an additional 255 shares in the last quarter. Cary Street Partners Financial LLC boosted its stake in Royalty Pharma by 1.1% during the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock valued at $943,000 after purchasing an additional 260 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Royalty Pharma by 34.7% during the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 282 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RPRX. JPMorgan Chase & Co. boosted their price objective on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. UBS Group raised their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. TD Cowen lifted their target price on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, Morgan Stanley increased their price target on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and an average target price of $56.57.

Royalty Pharma Trading Down 0.3%

NASDAQ RPRX opened at $59.02 on Friday. The stock has a market capitalization of $33.99 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 10.48 and a beta of 0.43. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $60.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The business’s fifty day moving average is $56.11 and its 200-day moving average is $49.80.

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, beating 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 company had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. Equities research analysts predict that Royalty Pharma PLC will post 5.18 EPS for the current year.

Royalty Pharma Dividend Announcement

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

Insider Activity at Royalty Pharma

In other news, EVP Christopher Hite sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the sale, the executive vice president owned 559,399 shares in the company, valued at $30,431,305.60. This trade represents a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction that occurred 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 in the company, valued at $959,891.75. This trade represents a 42.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 393,009 shares of company stock valued at $21,601,827 over the last quarter. 18.84% of the stock is currently owned by insiders.

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.