Royalty Pharma PLC $RPRX Stock: Calamos Advisors LLC Raises Stake

Calamos Advisors LLC grew its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 620,555 shares of the biopharmaceutical company’s stock after acquiring an additional 47,034 shares during the quarter. Calamos Advisors LLC’s holdings in Royalty Pharma were worth $36,216,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RPRX. Hsbc Holdings PLC grew its position in Royalty Pharma by 2,562.2% in the 1st quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock worth $74,000,000 after purchasing an additional 1,486,020 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Royalty Pharma in the 1st quarter worth $37,941,000. Bank of America Corp DE grew its holdings in shares of Royalty Pharma by 29.0% in the first quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock worth $167,696,000 after acquiring an additional 786,921 shares during the period. Carmignac Gestion bought a new stake in shares of Royalty Pharma in the first quarter worth $30,279,000. Finally, Congress Asset Management Co. bought a new stake in shares of Royalty Pharma in the third quarter worth $30,761,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Insider Buying and Selling at Royalty Pharma

In related news, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the transaction, the executive vice president owned 270,401 shares of the company’s stock, valued at approximately $15,826,570.53. This represents a 27.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $57.10, for a total value of $235,594.60. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 208,252 shares of company stock worth $12,324,407 over the last 90 days. Insiders own 18.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RPRX shares. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th. Morgan Stanley boosted their price target on Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. JPMorgan Chase & Co. upped their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 14th. Eight equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus target price of $63.29.

Royalty Pharma Stock Performance

NASDAQ RPRX traded down $0.27 on Friday, reaching $67.30. 4,835,293 shares of the stock were exchanged, compared to its average volume of 3,199,374. Royalty Pharma PLC has a one year low of $37.31 and a one year high of $69.77. The firm has a market capitalization of $38.70 billion, a PE ratio of 56.08, a PEG ratio of 1.82 and a beta of 0.37. The company’s 50-day simple moving average is $60.82 and its two-hundred day simple moving average is $53.81. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. Analysts expect that Royalty Pharma PLC will post 5.34 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be given a dividend of $0.2350 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s dividend payout ratio (DPR) is presently 78.33%.

About Royalty Pharma

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding.

The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.

Founded in 1996 by Pablo Legorreta, the company became publicly listed in 2020.