Nomura Asset Management Co. Ltd. Acquires 24,048 Shares of Royalty Pharma PLC $RPRX

Nomura Asset Management Co. Ltd. increased its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,418 shares of the biopharmaceutical company’s stock after purchasing an additional 24,048 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Royalty Pharma were worth $6,662,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Regal Partners Ltd lifted its stake in shares of Royalty Pharma by 6.7% during the 3rd quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock valued at $50,631,000 after buying an additional 89,930 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Royalty Pharma by 4.7% during the 4th quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock valued at $31,604,000 after buying an additional 36,664 shares in the last quarter. Qsemble Capital Management LP purchased a new position in shares of Royalty Pharma during the 4th quarter valued at $2,875,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Royalty Pharma during the 4th quarter valued at $4,923,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Royalty Pharma by 15.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,268,044 shares of the biopharmaceutical company’s stock valued at $48,997,000 after buying an additional 166,403 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RPRX. Citigroup lifted their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley lifted their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. UBS Group lifted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Finally, Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $53.71.

Insider Buying and Selling

In related news, EVP Marshall Urist sold 13,684 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.06, for a total transaction of $726,073.04. Following the transaction, the executive vice president directly owned 31,881 shares in the company, valued at approximately $1,691,605.86. This represents a 30.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total transaction 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. In the last ninety days, insiders sold 199,185 shares of company stock valued at $10,082,926. Company insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $54.97 on Thursday. The company’s 50-day moving average price is $50.44 and its 200-day moving average price is $44.82. Royalty Pharma PLC has a twelve month low of $33.25 and a twelve month high of $56.07. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The company has a market cap of $31.65 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 1.48 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. On average, equities research analysts forecast that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $0.235 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. Royalty Pharma’s payout ratio is 63.95%.

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.