Renaissance Technologies LLC Buys Shares of 790,937 Royalty Pharma PLC $RPRX

Renaissance Technologies LLC purchased a new position in Royalty Pharma PLC (NASDAQ:RPRX) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 790,937 shares of the biopharmaceutical company’s stock, valued at approximately $37,941,000. Renaissance Technologies LLC owned 0.14% of Royalty Pharma as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Gabelli Funds LLC acquired a new stake in shares of Royalty Pharma in the first quarter worth $271,000. Compound Planning Inc. raised its stake in Royalty Pharma by 7.8% during the 1st quarter. Compound Planning Inc. now owns 11,446 shares of the biopharmaceutical company’s stock valued at $549,000 after purchasing an additional 828 shares during the last quarter. Modern Wealth Management LLC acquired a new position in Royalty Pharma during the 1st quarter valued at $218,000. Inceptionr LLC boosted its holdings in Royalty Pharma by 287.2% in the 1st quarter. Inceptionr LLC now owns 44,557 shares of the biopharmaceutical company’s stock valued at $2,137,000 after purchasing an additional 33,050 shares during the period. Finally, Lido Advisors LLC bought a new stake in Royalty Pharma in the 1st quarter valued at $924,000. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, EVP Christopher Hite sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were 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 owned 559,399 shares in the company, valued at $30,431,305.60. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 393,009 shares of company stock worth $21,601,827. 18.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RPRX has been the topic of several research reports. UBS Group boosted their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. TD Cowen increased their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. boosted their price target on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Citigroup upped their price target on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $56.57.

Royalty Pharma Trading Down 0.2%

Shares of Royalty Pharma stock opened at $58.73 on Tuesday. The firm has a market capitalization of $33.82 billion, a PE ratio of 39.95, a price-to-earnings-growth ratio of 10.42 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The company’s fifty day moving average price is $55.73 and its two-hundred day moving average price is $49.40. Royalty Pharma PLC has a 52-week low of $34.08 and a 52-week high of $59.72.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. On average, analysts expect that Royalty Pharma PLC will post 5.18 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s dividend payout ratio is 63.95%.

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.