Jupiter Asset Management Ltd. Acquires 1,380,115 Shares of Royalty Pharma PLC $RPRX

Jupiter Asset Management Ltd. boosted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 126.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,470,706 shares of the biopharmaceutical company’s stock after purchasing an additional 1,380,115 shares during the quarter. Royalty Pharma comprises approximately 0.7% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 27th biggest position. Jupiter Asset Management Ltd. owned about 0.44% of Royalty Pharma worth $89,020,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RPRX. Victory Capital Management Inc. grew its holdings in Royalty Pharma by 270.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock valued at $112,788,000 after buying an additional 2,644,923 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Royalty Pharma by 2,543.7% in the first quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company’s stock valued at $33,656,000 after acquiring an additional 1,040,234 shares during the period. Nuveen LLC acquired a new position in shares of Royalty Pharma in the first quarter valued at about $27,749,000. AQR Capital Management LLC increased its position in Royalty Pharma by 37.0% during the first quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock worth $80,381,000 after acquiring an additional 704,414 shares during the period. Finally, Nordea Investment Management AB raised its stake in Royalty Pharma by 603.9% in the 2nd quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock worth $23,701,000 after purchasing an additional 562,799 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Trading Up 1.1%

RPRX opened at $38.96 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $41.24. The company’s 50 day moving average price is $36.60 and its two-hundred day moving average price is $35.57. The firm has a market capitalization of $22.72 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 2.03 and a beta of 0.56.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%.The company had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million. As a group, research analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, November 14th. Royalty Pharma’s payout ratio is presently 66.67%.

Analysts Set New Price Targets

RPRX has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Citigroup increased their target price on Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings downgraded Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They set a “buy” rating and a $42.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $46.00.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.