Magnetar Financial LLC Takes Position in Royalty Pharma PLC $RPRX

Magnetar Financial LLC purchased a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,455 shares of the biopharmaceutical company’s stock, valued at approximately $5,308,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RPRX. CWM LLC lifted its stake in Royalty Pharma by 1.5% during the 3rd quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock valued at $656,000 after acquiring an additional 281 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Royalty Pharma by 9.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 289 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of Royalty Pharma by 3.5% in the 3rd quarter. Merit Financial Group LLC now owns 9,149 shares of the biopharmaceutical company’s stock worth $323,000 after acquiring an additional 306 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Royalty Pharma by 5.1% in the third quarter. Wedmont Private Capital now owns 6,793 shares of the biopharmaceutical company’s stock valued at $245,000 after purchasing an additional 331 shares during the last quarter. Finally, Xponance Inc. raised its holdings in shares of Royalty Pharma by 0.8% in the third quarter. Xponance Inc. now owns 41,254 shares of the biopharmaceutical company’s stock valued at $1,455,000 after purchasing an additional 331 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $46.69 on Thursday. The company has a market capitalization of $26.93 billion, a P/E ratio of 34.59 and a beta of 0.40. The company’s 50-day moving average is $42.97 and its 200 day moving average is $39.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. Royalty Pharma PLC has a fifty-two week low of $29.66 and a fifty-two week high of $47.86.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $621.99 million during the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. On average, equities research analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, February 20th. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s dividend payout ratio (DPR) is 69.63%.

Analyst Ratings Changes

Several research firms recently weighed in on RPRX. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. UBS Group upgraded shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Friday, January 30th. Wall Street Zen cut shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Finally, Leerink Partners set a $45.00 price target on Royalty Pharma in a research report on Thursday, December 11th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $48.67.

Insider Buying and Selling

In related news, EVP Marshall Urist sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was 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 at this hyperlink. Also, CFO Terrance P. Coyne sold 34,791 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $46.78, for a total value of $1,627,522.98. Following the completion of the transaction, the chief financial officer owned 45,761 shares in the company, valued at approximately $2,140,699.58. The trade was a 43.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 737,078 shares of company stock worth $29,862,002 in the last ninety days. 18.90% of the stock is currently owned by insiders.

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.