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

Lake Street Advisors Group LLC bought a new stake in Royalty Pharma plc (NASDAQ:RPRX) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 7,462 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.

Other large investors have also modified their holdings of the company. Inspire Investing LLC grew its position in 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 buying an additional 27,701 shares during the last quarter. New Century Financial Group LLC purchased a new stake in shares of Royalty Pharma in the first quarter valued at about $1,091,000. Swedbank AB increased its stake in shares of 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 acquiring an additional 2,533,570 shares during the period. Canada Pension Plan Investment Board raised its holdings in 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 purchasing an additional 45,839 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in 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 purchasing an additional 19,834 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley raised their price target on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. The Goldman Sachs Group boosted their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Citigroup cut their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Royalty Pharma Stock Down 1.2 %

RPRX opened at $26.95 on Monday. The business’s fifty day simple moving average is $28.02 and its 200 day simple moving average is $27.60. The firm has a market cap of $16.10 billion, a P/E ratio of 20.11, a PEG ratio of 4.03 and a beta of 0.46. Royalty Pharma plc has a 52 week low of $25.20 and a 52 week high of $31.66. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The company had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. During the same period last year, the firm earned $0.85 earnings per share. As a group, equities research analysts anticipate that Royalty Pharma plc will post 4.05 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared 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 payout ratio is currently 62.69%.

Royalty Pharma Company 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.