20,696 Royalty Pharma PLC $RPRX Shares Purchased by Profund Advisors LLC

Profund Advisors LLC boosted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 445.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,344 shares of the biopharmaceutical company’s stock after buying an additional 20,696 shares during the quarter. Profund Advisors LLC’s holdings in Royalty Pharma were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in RPRX. ProShare Advisors LLC grew its holdings in shares of Royalty Pharma by 6.2% in the 3rd quarter. ProShare Advisors LLC now owns 15,439 shares of the biopharmaceutical company’s stock worth $901,000 after acquiring an additional 897 shares during the period. Vise Technologies Inc. raised its holdings in Royalty Pharma by 35.5% during the third quarter. Vise Technologies Inc. now owns 32,473 shares of the biopharmaceutical company’s stock worth $1,895,000 after purchasing an additional 8,515 shares during the last quarter. Moss Adams Wealth Advisors LLC acquired a new position in Royalty Pharma during the third quarter worth $210,000. MGO One Seven LLC acquired a new position in Royalty Pharma during the third quarter worth $203,000. Finally, Soltis Investment Advisors LLC purchased a new stake in Royalty Pharma during the third quarter worth $203,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 transaction of $235,594.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 208,252 shares of company stock valued at $12,324,407. Insiders own 18.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley upped their target price on Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Bank of America restated a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Weiss Ratings upgraded shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 14th. Finally, TD Cowen increased their price objective on shares of Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Eight analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus target price of $61.57.

Royalty Pharma Trading Down 1.0%

Shares of RPRX opened at $66.52 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. The firm has a 50 day simple moving average of $60.38 and a 200-day simple moving average of $53.26. Royalty Pharma PLC has a 1-year low of $36.03 and a 1-year high of $67.71. The stock has a market cap of $38.25 billion, a price-to-earnings ratio of 45.88, a price-to-earnings-growth ratio of 1.78 and a beta of 0.42.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The firm had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. Equities analysts forecast that Royalty Pharma PLC will post 5.29 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be issued a $0.2350 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Royalty Pharma’s payout ratio is 64.83%.

About Royalty Pharma

Royalty Pharma plc (NASDAQ:RPRX) is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.