Royalty Pharma PLC $RPRX Shares Acquired by Saudi Central Bank

Saudi Central Bank increased its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 92.1% in the second quarter, Holdings Channel.com reports. The firm owned 28,773 shares of the biopharmaceutical company’s stock after purchasing an additional 13,791 shares during the period. Saudi Central Bank’s holdings in Royalty Pharma were worth $1,613,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RPRX. LM Advisors LLC acquired a new stake in Royalty Pharma in the 4th quarter worth about $26,000. Lloyd Advisory Services LLC. purchased a new position in shares of Royalty Pharma during the 4th quarter worth about $30,000. Blue Trust Inc. boosted its position in shares of Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 437 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings 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 purchasing an additional 446 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Royalty Pharma by 31.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 306 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, EVP Christopher Hite sold 150,000 shares of Royalty Pharma 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 transaction, the executive vice president owned 559,399 shares of the company’s stock, valued at $30,431,305.60. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total transaction of $508,452.12. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 398,197 shares of company stock valued at $22,513,280. Insiders own 18.84% of the company’s stock.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of research analyst reports. Bank of America reissued a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Royalty Pharma in a research report on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. TD Cowen increased their target price on Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Royalty Pharma in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $61.29.

Royalty Pharma Stock Down 5.3%

Shares of NASDAQ:RPRX opened at $60.59 on Wednesday. The firm has a market cap of $34.84 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 1.49 and a beta of 0.44. The company has a fifty day simple moving average of $59.20 and a 200 day simple moving average of $53.38. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 12-month low of $34.63 and a 12-month high of $64.38.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The firm had revenue of $674.14 million for the quarter, compared to the consensus estimate of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. On average, equities research analysts anticipate that Royalty Pharma PLC will post 5.3 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is currently 64.83%.

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.