Calamos Wealth Management LLC Makes New Investment in Royalty Pharma PLC $RPRX

Calamos Wealth Management LLC purchased a new stake in Royalty Pharma PLC (NASDAQ:RPRX) during the 1st quarter, Holdings Channel.com reports. The fund purchased 78,416 shares of the biopharmaceutical company’s stock, valued at approximately $3,762,000.

A number of other hedge funds also recently made changes to their positions in the business. Barton Investment Management bought a new stake in Royalty Pharma in the first quarter valued at about $905,000. Nomura Asset Management Co. Ltd. lifted its stake in Royalty Pharma by 16.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock worth $6,662,000 after purchasing an additional 24,048 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Royalty Pharma during the fourth quarter valued at approximately $4,923,000. Qsemble Capital Management LP acquired a new stake in Royalty Pharma during the fourth quarter valued at approximately $2,875,000. Finally, Nordea Investment Management AB grew its stake in shares of Royalty Pharma by 4.7% in the 4th quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock valued at $31,604,000 after purchasing an additional 36,664 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Up 0.0%

Shares of RPRX opened at $56.45 on Tuesday. The business’s fifty day moving average price is $54.48 and its two-hundred day moving average price is $48.08. The firm has a market capitalization of $32.51 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 1.55 and a beta of 0.43. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $58.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $630.58 million for the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, analysts predict that Royalty Pharma PLC will post 5.06 earnings per share for the current year.

Royalty Pharma Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RPRX. JPMorgan Chase & Co. increased their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. TD Cowen upped their price target on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday. UBS Group upped their price target on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings lowered Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma has a consensus rating of “Buy” and an average target price of $56.57.

Insider Buying and Selling at Royalty Pharma

In other news, CFO Terrance P. Coyne sold 64,399 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the sale, the executive vice president owned 559,399 shares of the company’s stock, valued at approximately $30,431,305.60. This represents a 21.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 427,800 shares of company stock valued at $23,333,723. 18.84% of the stock is currently owned by company insiders.

Royalty Pharma 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.