Royalty Pharma PLC $RPRX Shares Acquired by L2 Asset Management LLC

L2 Asset Management LLC boosted its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 1,264.9% in the third quarter, HoldingsChannel reports. The firm owned 92,215 shares of the biopharmaceutical company’s stock after purchasing an additional 85,459 shares during the period. L2 Asset Management LLC’s holdings in Royalty Pharma were worth $3,253,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RPRX. Larson Financial Group LLC increased its holdings in 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 purchasing an additional 306 shares during the last quarter. Hilltop Holdings Inc. purchased a new position in shares of Royalty Pharma during the 3rd quarter valued at approximately $205,000. Holocene Advisors LP boosted its stake in shares of Royalty Pharma by 74.0% during the 3rd quarter. Holocene Advisors LP now owns 18,288 shares of the biopharmaceutical company’s stock valued at $645,000 after buying an additional 7,779 shares during the last quarter. Dorsey Asset Management LLC acquired a new stake in shares of Royalty Pharma during the third quarter worth approximately $82,924,000. Finally, Clark Capital Management Group Inc. acquired a new stake in shares of Royalty Pharma during the third quarter worth approximately $61,805,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on RPRX shares. Morgan Stanley restated an “overweight” rating and issued a $61.00 price target on shares of Royalty Pharma in a research note on Thursday, February 12th. Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Citigroup raised their price objective on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, Royalty Pharma has an average rating of “Buy” and a consensus price target of $48.67.

Insider Transactions at Royalty Pharma

In other news, EVP Marshall Urist sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $41.09, for a total value of $821,800.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP George W. Lloyd sold 79,346 shares of Royalty Pharma stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $38.57, for a total transaction of $3,060,375.22. Following the completion of the transaction, the executive vice president directly owned 30,654 shares of the company’s stock, valued at $1,182,324.78. This trade represents a 72.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 647,496 shares of company stock worth $26,426,437. 18.90% of the stock is currently owned by insiders.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $46.10 on Tuesday. Royalty Pharma PLC has a twelve month low of $29.66 and a twelve month high of $47.86. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $26.59 billion, a price-to-earnings ratio of 34.15 and a beta of 0.40. The business has a 50 day simple moving average of $43.38 and a 200-day simple moving average of $39.66.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.13. The firm had revenue of $621.99 million for 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 expect that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 20th. Royalty Pharma’s dividend payout ratio is currently 69.63%.

About Royalty Pharma

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.