Metis Global Partners LLC Takes Position in Royalty Pharma plc (NASDAQ:RPRX)

Metis Global Partners LLC bought a new position in shares of Royalty Pharma plc (NASDAQ:RPRXFree Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 13,367 shares of the biopharmaceutical company’s stock, valued at approximately $375,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Royalty Pharma by 89.8% in the third quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 451 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Royalty Pharma by 112.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 531 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Royalty Pharma by 485.2% during the fourth quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 1,999 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Royalty Pharma during the fourth quarter valued at approximately $110,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Royalty Pharma by 10.8% in the third quarter. PNC Financial Services Group Inc. now owns 5,509 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 536 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RPRX. Bank of America reduced their price objective on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 12th. StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group cut their target price on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.75.

Check Out Our Latest Stock Report on RPRX

Royalty Pharma Price Performance

Royalty Pharma stock opened at $28.09 on Friday. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $16.78 billion, a P/E ratio of 20.96 and a beta of 0.47. The business has a 50-day moving average of $29.11 and a 200-day moving average of $28.59. Royalty Pharma plc has a 1 year low of $25.92 and a 1 year high of $35.09.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Royalty Pharma had a net margin of 35.70% and a return on equity of 22.97%. The firm had revenue of $568.00 million during the quarter, compared to analysts’ expectations of $671.45 million. During the same quarter in the previous year, the company earned $1.60 earnings per share. On average, equities analysts anticipate that Royalty Pharma plc will post 4 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a $0.21 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a yield of 2.99%. Royalty Pharma’s payout ratio is 62.69%.

About Royalty Pharma

(Free Report)

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.

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Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)

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