Crestline Management LP Purchases 79,532 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Crestline Management LP raised its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 360.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,578 shares of the biopharmaceutical company's stock after buying an additional 79,532 shares during the quarter. Crestline Management LP's holdings in Royalty Pharma were worth $2,591,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Cutter Capital Management LP raised its stake in Royalty Pharma by 15.0% in the 4th quarter. Cutter Capital Management LP now owns 764,859 shares of the biopharmaceutical company's stock valued at $19,512,000 after acquiring an additional 100,000 shares during the period. Bridgefront Capital LLC purchased a new position in shares of Royalty Pharma in the fourth quarter worth about $311,000. Balyasny Asset Management L.P. bought a new stake in shares of Royalty Pharma in the fourth quarter valued at approximately $1,524,000. Baird Financial Group Inc. purchased a new stake in shares of Royalty Pharma during the 4th quarter valued at approximately $1,586,000. Finally, Bank of America Corp DE lifted its stake in shares of Royalty Pharma by 46.7% during the 4th quarter. Bank of America Corp DE now owns 2,985,585 shares of the biopharmaceutical company's stock valued at $76,162,000 after buying an additional 950,880 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Price Performance

Shares of RPRX stock traded up $0.05 during trading hours on Friday, reaching $33.15. The stock had a trading volume of 4,354,648 shares, compared to its average volume of 3,304,626. The stock's fifty day simple moving average is $32.39 and its 200 day simple moving average is $29.78. The firm has a market capitalization of $19.11 billion, a PE ratio of 22.86, a PEG ratio of 2.31 and a beta of 0.49. Royalty Pharma plc has a 12 month low of $24.05 and a 12 month high of $34.20. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. The firm had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. On average, equities research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.