Saybrook Capital NC Takes $496,000 Position in Royalty Pharma plc (NASDAQ:RPRX)

Saybrook Capital NC bought a new stake in Royalty Pharma plc (NASDAQ:RPRX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,675 shares of the biopharmaceutical company’s stock, valued at approximately $496,000.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Royalty Pharma by 9.3% during the 3rd quarter. Victory Capital Management Inc. now owns 338,890 shares of the biopharmaceutical company’s stock worth $9,197,000 after purchasing an additional 28,851 shares during the period. Korea Investment CORP lifted its stake in shares of Royalty Pharma by 498.0% in the third quarter. Korea Investment CORP now owns 226,653 shares of the biopharmaceutical company’s stock valued at $6,151,000 after purchasing an additional 188,754 shares during the period. Synovus Financial Corp lifted its stake in shares of Royalty Pharma by 26.0% in the third quarter. Synovus Financial Corp now owns 119,741 shares of the biopharmaceutical company’s stock valued at $3,250,000 after purchasing an additional 24,721 shares during the period. Northern Trust Corp lifted its stake in shares of Royalty Pharma by 9.4% in the third quarter. Northern Trust Corp now owns 2,597,949 shares of the biopharmaceutical company’s stock valued at $70,508,000 after purchasing an additional 224,261 shares during the period. Finally, Dark Forest Capital Management LP lifted its stake in shares of Royalty Pharma by 43.9% in the third quarter. Dark Forest Capital Management LP now owns 66,710 shares of the biopharmaceutical company’s stock valued at $1,811,000 after purchasing an additional 20,361 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Trading Down 1.7 %

Shares of NASDAQ RPRX traded down $0.48 during midday trading on Tuesday, reaching $27.77. 524,906 shares of the stock were exchanged, compared to its average volume of 2,648,442. The company has a market capitalization of $16.59 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.81 and a beta of 0.45. Royalty Pharma plc has a 52-week low of $25.92 and a 52-week high of $36.67. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $29.90 and a 200-day moving average price of $28.51.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. The business had revenue of $736.00 million during the quarter, compared to the consensus estimate of $702.90 million. Equities research analysts expect that Royalty Pharma plc will post 3.89 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.02%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 15th. Royalty Pharma’s payout ratio is presently 44.44%.

Analysts Set New Price Targets

Several brokerages recently commented on RPRX. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. cut their target price on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. The Goldman Sachs Group cut their target price on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Finally, Bank of America cut their target price on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $46.75.

About Royalty Pharma

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.