BTG Pactual Asset Management US LLC Acquires 11,073 Shares of Royalty Pharma PLC $RPRX

BTG Pactual Asset Management US LLC boosted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 18.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,732 shares of the biopharmaceutical company’s stock after purchasing an additional 11,073 shares during the period. BTG Pactual Asset Management US LLC’s holdings in Royalty Pharma were worth $3,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Morgan Stanley raised its holdings in shares of Royalty Pharma by 25.2% during the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock valued at $2,135,790,000 after acquiring an additional 11,110,115 shares in the last quarter. Capital International Investors increased its position in Royalty Pharma by 14.3% during the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after purchasing an additional 3,891,615 shares during the period. Norges Bank purchased a new position in Royalty Pharma during the 4th quarter valued at $131,923,000. Qube Research & Technologies Ltd boosted its stake in shares of Royalty Pharma by 737.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock valued at $87,557,000 after purchasing an additional 2,185,366 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Royalty Pharma by 379.2% during the third quarter. Millennium Management LLC now owns 2,235,133 shares of the biopharmaceutical company’s stock valued at $78,855,000 after buying an additional 1,768,702 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Sunday. JPMorgan Chase & Co. increased their target price on Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Morgan Stanley restated an “overweight” rating and issued a $65.00 target price on shares of Royalty Pharma in a research note on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and set a $66.00 price target on shares of Royalty Pharma in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Royalty Pharma in a research note on Wednesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $60.86.

Insiders Place Their Bets

In related news, EVP Marshall Urist sold 9,099 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total transaction of $508,452.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $59.97, for a total transaction of $5,997,000.00. Following the completion of the transaction, the executive vice president directly owned 370,401 shares of the company’s stock, valued at $22,212,947.97. This trade represents a 21.26% 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. Over the last three months, insiders sold 398,197 shares of company stock worth $22,513,280. Insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $60.85 on Monday. The firm has a market capitalization of $34.99 billion, a P/E ratio of 41.97, a PEG ratio of 1.42 and a beta of 0.43. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $62.46. The company’s 50-day simple moving average is $58.16 and its 200 day simple moving average is $52.50.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The firm had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. As a group, analysts forecast that Royalty Pharma PLC will post 5.3 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s dividend payout ratio is currently 64.83%.

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.