Y Intercept Hong Kong Ltd Grows Stake in Royalty Pharma PLC $RPRX

Y Intercept Hong Kong Ltd grew its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 1,294.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,339 shares of the biopharmaceutical company’s stock after acquiring an additional 68,079 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Royalty Pharma were worth $3,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Royalty Pharma by 42.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 168,250 shares of the biopharmaceutical company’s stock worth $8,071,000 after purchasing an additional 49,900 shares during the last quarter. Keybank National Association OH grew its stake in Royalty Pharma by 17.2% during the 1st quarter. Keybank National Association OH now owns 45,394 shares of the biopharmaceutical company’s stock worth $2,178,000 after buying an additional 6,668 shares during the last quarter. CHICAGO TRUST Co NA acquired a new position in Royalty Pharma during the 1st quarter valued at about $258,000. USS Investment Management Ltd boosted its holdings in Royalty Pharma by 21.2% in the first quarter. USS Investment Management Ltd now owns 122,359 shares of the biopharmaceutical company’s stock worth $5,870,000 after acquiring an additional 21,417 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in shares of Royalty Pharma by 3.3% during the first quarter. IFM Investors Pty Ltd now owns 120,803 shares of the biopharmaceutical company’s stock valued at $5,795,000 after acquiring an additional 3,819 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Trading Up 1.5%

Shares of RPRX stock traded up $0.86 on Tuesday, hitting $57.78. 661,987 shares of the stock traded hands, compared to its average volume of 3,676,533. The stock has a market capitalization of $33.27 billion, a PE ratio of 39.31, a PEG ratio of 1.59 and a beta of 0.43. Royalty Pharma PLC has a twelve month low of $34.08 and a twelve month high of $58.18. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The firm’s 50-day moving average price is $53.70 and its two-hundred day moving average price is $47.43.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. As a group, analysts anticipate that Royalty Pharma PLC will post 5.05 EPS for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.235 per share. The ex-dividend date was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s payout ratio is 63.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. lifted their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Morgan Stanley increased their price target on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Finally, Citigroup raised their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $53.71.

Insider Buying and Selling at Royalty Pharma

In other news, EVP Christopher Hite sold 150,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the transaction, the executive vice president directly owned 559,399 shares of the company’s stock, valued at approximately $30,431,305.60. This represents a 21.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. 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 three months, insiders have sold 427,800 shares of company stock valued at $23,333,723. Company insiders own 18.84% of the company’s stock.

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.