12,205 Shares in Royalty Pharma plc (NASDAQ:RPRX) Acquired by Bridgefront Capital LLC

Bridgefront Capital LLC bought a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,205 shares of the biopharmaceutical company's stock, valued at approximately $311,000.

A number of other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group lifted its position in shares of Royalty Pharma by 1,006.9% during the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 876 shares during the period. Allworth Financial LP boosted 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 worth $28,000 after purchasing an additional 877 shares during the period. Riverview Trust Co grew its holdings in shares of Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 1,186 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Royalty Pharma by 187.1% during the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 997 shares during the last quarter. Finally, Rakuten Securities Inc. raised its position in Royalty Pharma by 160.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 1,003 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Royalty Pharma presently has an average rating of "Buy" and an average price target of $42.50.

Royalty Pharma Trading Up 0.2 %

Shares of NASDAQ:RPRX traded up $0.05 during trading on Friday, hitting $33.15. The company had a trading volume of 4,354,648 shares, compared to its average volume of 3,304,626. 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 stock has a market cap of $19.11 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. The company has a fifty day simple moving average of $32.39 and a two-hundred day simple moving average of $29.78.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating 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 business had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. As a group, equities analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.65%. Royalty Pharma's dividend payout ratio is presently 60.69%.

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.