Balyasny Asset Management L.P. Makes New $1.52 Million Investment in Royalty Pharma plc (NASDAQ:RPRX)

Balyasny Asset Management L.P. acquired a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 59,755 shares of the biopharmaceutical company's stock, valued at approximately $1,524,000.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group grew its stake in Royalty Pharma by 1,006.9% in the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 876 shares in the last quarter. Allworth Financial LP grew its stake in Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 877 shares in the last quarter. Riverview Trust Co grew its stake in Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 1,186 shares in the last quarter. Fifth Third Bancorp grew its stake in Royalty Pharma by 187.1% in the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 997 shares in the last quarter. Finally, Rakuten Securities Inc. grew its stake in Royalty Pharma by 160.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 1,003 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on shares of Royalty Pharma in a research note on Friday. They issued an "overweight" rating and a $51.00 price objective for the company. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Finally, StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $42.50.

Royalty Pharma Price Performance

NASDAQ:RPRX traded up $0.90 during trading hours on Friday, hitting $34.02. The stock had a trading volume of 4,933,445 shares, compared to its average volume of 3,347,310. The company has a 50 day simple moving average of $32.39 and a two-hundred day simple moving average of $29.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20. The firm has a market capitalization of $19.61 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 2.31 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. The company had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. Research analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.59%. Royalty Pharma's dividend payout ratio (DPR) is presently 47.57%.

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.