28,168 Shares in Royalty Pharma plc (NASDAQ:RPRX) Acquired by Cerity Partners LLC

Cerity Partners LLC acquired a new stake in Royalty Pharma plc (NASDAQ:RPRX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 28,168 shares of the biopharmaceutical company’s stock, valued at approximately $791,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Royalty Pharma by 1.5% in the third quarter. Morgan Stanley now owns 48,132,615 shares of the biopharmaceutical company’s stock valued at $1,306,319,000 after acquiring an additional 702,754 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Royalty Pharma by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 39,437,354 shares of the biopharmaceutical company’s stock worth $1,070,330,000 after purchasing an additional 589,558 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Royalty Pharma by 13.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 9,840,000 shares of the biopharmaceutical company’s stock worth $267,058,000 after purchasing an additional 1,190,000 shares during the period. JPMorgan Chase & Co. raised its position in shares of Royalty Pharma by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 8,887,567 shares of the biopharmaceutical company’s stock valued at $241,209,000 after buying an additional 151,396 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Royalty Pharma by 9.4% in the third quarter. Northern Trust Corp now owns 2,597,949 shares of the biopharmaceutical company’s stock valued at $70,508,000 after buying an additional 224,261 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $27.82 on Tuesday. The stock’s 50-day moving average is $29.74 and its 200-day moving average is $28.54. The stock has a market cap of $16.62 billion, a P/E ratio of 14.72 and a beta of 0.45. Royalty Pharma plc has a 1-year low of $25.92 and a 1-year high of $36.19. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. The firm had revenue of $736.00 million for the quarter, compared to analyst estimates of $702.90 million. Equities research analysts anticipate that Royalty Pharma plc will post 3.95 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Thursday, May 16th. Royalty Pharma’s dividend payout ratio is presently 44.44%.

Analysts Set New Price Targets

Several brokerages have weighed in on RPRX. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. The Goldman Sachs Group cut their price objective on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. JPMorgan Chase & Co. decreased their target price on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. Finally, Bank of America cut their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $46.75.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.