Overbrook Management Corp Lowers Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Overbrook Management Corp lessened its stake in Royalty Pharma plc (NASDAQ:RPRX) by 4.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 200,412 shares of the biopharmaceutical company’s stock after selling 8,937 shares during the quarter. Royalty Pharma makes up 1.3% of Overbrook Management Corp’s holdings, making the stock its 26th largest holding. Overbrook Management Corp’s holdings in Royalty Pharma were worth $5,285,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Royalty Pharma by 5,215.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 1,043 shares during the last quarter. Gladius Capital Management LP purchased a new position in Royalty Pharma in the 2nd quarter worth about $32,000. Fidelis Capital Partners LLC purchased a new position in Royalty Pharma in the 1st quarter worth about $46,000. GAMMA Investing LLC raised its position in Royalty Pharma by 172.5% in the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 1,037 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Royalty Pharma by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock worth $51,000 after buying an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their target price on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley boosted their price target on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. UBS Group downgraded Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Monday, June 3rd. Finally, StockNews.com downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Royalty Pharma currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Royalty Pharma Price Performance

NASDAQ RPRX traded up $0.46 during trading hours on Friday, reaching $28.19. The company’s stock had a trading volume of 2,846,655 shares, compared to its average volume of 2,756,177. The firm’s 50-day moving average price is $27.16 and its 200-day moving average price is $28.22. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78. Royalty Pharma plc has a 1 year low of $25.20 and a 1 year high of $31.66. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 4.01 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The company had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $600.83 million. During the same period in the previous year, the firm earned $0.85 EPS. On average, equities research analysts predict that Royalty Pharma plc will post 4.04 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, August 16th. This represents a $0.84 annualized dividend and a dividend yield of 2.98%. Royalty Pharma’s dividend payout ratio (DPR) is 62.69%.

Royalty Pharma 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.