Dark Forest Capital Management LP Has $8.93 Million Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Dark Forest Capital Management LP grew its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 2,974.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,675 shares of the biopharmaceutical company’s stock after buying an additional 327,659 shares during the quarter. Royalty Pharma comprises 1.6% of Dark Forest Capital Management LP’s holdings, making the stock its 5th biggest position. Dark Forest Capital Management LP’s holdings in Royalty Pharma were worth $8,931,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Inspire Investing LLC boosted its stake in Royalty Pharma by 175.1% during the first 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 in the last quarter. APG Asset Management US Inc. bought a new position in shares of Royalty Pharma during the 4th quarter valued at about $2,100,000. New Century Financial Group LLC bought a new position in shares of Royalty Pharma during the 1st quarter valued at about $1,091,000. Patient Capital Management LLC acquired a new position in shares of Royalty Pharma in the 4th quarter worth approximately $35,247,000. Finally, Rhenman & Partners Asset Management AB raised its holdings in shares of Royalty Pharma by 186.5% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 429,697 shares of the biopharmaceutical company’s stock worth $12,070,000 after purchasing an additional 279,697 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $27.65 on Thursday. The company has a market cap of $16.41 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 4.09 and a beta of 0.46. The company’s fifty day moving average is $28.01 and its two-hundred day moving average is $27.94. 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 plc has a 12-month low of $25.20 and a 12-month high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS 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 analysts’ expectations of $600.83 million. During the same period last year, the company posted $0.85 earnings per share. Equities analysts expect that Royalty Pharma plc will post 4.04 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 16th were given a dividend of $0.21 per share. The ex-dividend date was Friday, August 16th. This represents a $0.84 dividend on an annualized basis and a yield of 3.04%. Royalty Pharma’s payout ratio is 62.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RPRX shares. Morgan Stanley raised their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. The Goldman Sachs Group raised their price objective on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. UBS Group cut Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Monday, June 3rd. Finally, StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Royalty Pharma presently has an average rating of “Moderate Buy” and an average price target of $42.00.

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.