Lake Street Advisors Group LLC Makes New Investment in Royalty Pharma plc (NASDAQ:RPRX)

Lake Street Advisors Group LLC purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,462 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC raised its stake in shares of Royalty Pharma by 175.1% in the 1st quarter. Inspire Investing LLC now owns 43,524 shares of the biopharmaceutical company’s stock valued at $1,322,000 after acquiring an additional 27,701 shares during the period. New Century Financial Group LLC purchased a new stake in Royalty Pharma in the first quarter valued at approximately $1,091,000. Swedbank AB lifted its stake in Royalty Pharma by 30.6% during the second quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock worth $285,151,000 after purchasing an additional 2,533,570 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Royalty Pharma by 5.2% during the first quarter. Canada Pension Plan Investment Board now owns 923,639 shares of the biopharmaceutical company’s stock worth $28,051,000 after buying an additional 45,839 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of Royalty Pharma by 28.2% in the first quarter. Tidal Investments LLC now owns 90,149 shares of the biopharmaceutical company’s stock valued at $2,740,000 after buying an additional 19,834 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. The Goldman Sachs Group raised their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Citigroup reduced their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday. Finally, StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $26.95 on Monday. The business’s fifty day moving average price is $28.02 and its 200 day moving average price is $27.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. The firm has a market capitalization of $16.10 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 4.03 and a beta of 0.46. Royalty Pharma plc has a 12 month low of $25.20 and a 12 month high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. The business had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts anticipate that Royalty Pharma plc will post 4.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is currently 62.69%.

Royalty Pharma Profile

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.