Lighthouse Investment Partners LLC Takes $1.98 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

Lighthouse Investment Partners LLC purchased a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) during the second quarter, Holdings Channel reports. The institutional investor purchased 75,103 shares of the biopharmaceutical company’s stock, valued at approximately $1,980,000.

Other large investors have also recently bought and sold shares of the company. Swedbank AB acquired a new stake in Royalty Pharma during the 1st quarter worth about $251,461,000. New South Capital Management Inc. purchased a new stake in shares of Royalty Pharma in the first quarter worth approximately $44,384,000. ADAR1 Capital Management LLC acquired a new stake in shares of Royalty Pharma during the fourth quarter worth approximately $37,130,000. Patient Capital Management LLC acquired a new position in Royalty Pharma in the 4th quarter valued at approximately $35,247,000. Finally, Homestead Advisers Corp lifted its position in Royalty Pharma by 40.7% in the 1st quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock worth $57,502,000 after buying an additional 547,000 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 $28.21 on Friday. The stock has a market capitalization of $16.74 billion, a P/E ratio of 21.05, a P/E/G ratio of 4.09 and a beta of 0.46. The business has a 50-day moving average of $28.01 and a two-hundred day moving average of $27.91. Royalty Pharma plc has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results 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. The firm had revenue of $537.00 million during the quarter, compared to analyst estimates of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same period in the previous year, the company earned $0.85 EPS. On average, equities research analysts predict that Royalty Pharma plc will post 4.04 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 16th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, August 16th. Royalty Pharma’s payout ratio is 62.69%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RPRX. Morgan Stanley boosted their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. UBS Group lowered Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research report on Monday, June 3rd. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group increased their price objective on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Royalty Pharma currently has an average rating of “Moderate Buy” and an average price target of $42.00.

About Royalty Pharma

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.