Verity Asset Management Inc. Purchases Shares of 17,655 Royalty Pharma PLC $RPRX

Verity Asset Management Inc. purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,655 shares of the biopharmaceutical company’s stock, valued at approximately $682,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Royalty Pharma in the third quarter valued at approximately $933,000. Nordea Investment Management AB boosted its position in shares of Royalty Pharma by 18.3% in the third quarter. Nordea Investment Management AB now owns 775,999 shares of the biopharmaceutical company’s stock valued at $27,137,000 after acquiring an additional 120,004 shares during the period. Generali Asset Management SPA SGR boosted its position in shares of Royalty Pharma by 7,752.8% in the third quarter. Generali Asset Management SPA SGR now owns 34,081 shares of the biopharmaceutical company’s stock valued at $1,202,000 after acquiring an additional 33,647 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Royalty Pharma by 28.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 140,131 shares of the biopharmaceutical company’s stock valued at $4,944,000 after acquiring an additional 31,045 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in shares of Royalty Pharma in the third quarter valued at approximately $1,548,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Morgan Stanley increased their price objective on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Citigroup increased their price objective on Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Finally, Weiss Ratings raised Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $50.33.

Insider Buying and Selling at Royalty Pharma

In related news, EVP Marshall Urist sold 20,000 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $41.09, for a total value of $821,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Terrance P. Coyne sold 114,954 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $42.84, for a total value of $4,924,629.36. Following the completion of the transaction, the chief financial officer directly owned 23,972 shares of the company’s stock, valued at approximately $1,026,960.48. This trade represents a 82.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 367,914 shares of company stock valued at $16,074,774. 18.84% of the stock is owned by company insiders.

Royalty Pharma Stock Performance

RPRX stock traded up $0.85 during midday trading on Thursday, hitting $50.34. The stock had a trading volume of 246,844 shares, compared to its average volume of 3,470,434. The firm has a market capitalization of $29.04 billion, a price-to-earnings ratio of 37.22, a P/E/G ratio of 3.17 and a beta of 0.39. Royalty Pharma PLC has a 52 week low of $31.97 and a 52 week high of $50.25. The stock has a 50-day simple moving average of $47.21 and a 200 day simple moving average of $42.31. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. The firm had revenue of $621.99 million during the quarter, compared to analysts’ expectations of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. As a group, equities research analysts anticipate that Royalty Pharma PLC will post 5.08 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is 69.63%.

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.