AlphaCentric Advisors LLC Raises Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

AlphaCentric Advisors LLC boosted its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 12.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,500 shares of the biopharmaceutical company’s stock after purchasing an additional 7,500 shares during the quarter. Royalty Pharma makes up 1.4% of AlphaCentric Advisors LLC’s holdings, making the stock its 22nd largest position. AlphaCentric Advisors LLC’s holdings in Royalty Pharma were worth $1,910,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,043 shares in the last quarter. Gladius Capital Management LP purchased a new position in shares of Royalty Pharma in the second quarter valued at approximately $32,000. Blue Trust Inc. lifted its position in shares of Royalty Pharma by 362.7% in the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 943 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Royalty Pharma in the first quarter valued at approximately $46,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 655 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

RPRX stock opened at $27.20 on Tuesday. The business has a fifty day moving average of $27.95 and a two-hundred day moving average of $27.56. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 3.99 and a beta of 0.47. Royalty Pharma plc has a 52-week low of $25.20 and a 52-week high of $31.66.

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

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 3.09%. Royalty Pharma’s dividend payout ratio (DPR) is 74.34%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RPRX shares. The Goldman Sachs Group raised their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Citigroup cut their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Morgan Stanley increased 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

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.