Calamos Wealth Management LLC Acquires New Shares in Royalty Pharma PLC $RPRX

Key Points

• Calamos Wealth Management initiated a new position in Royalty Pharma during the first quarter, buying 78,416 shares worth about $3.76 million.
• Analysts remain broadly positive on RPRX: the stock has an average Buy rating, with several firms recently raising price targets, including Citi to $66 and TD Cowen to $65.
• Royalty Pharma reported Q1 EPS of $1.30, beating estimates, and recently paid a quarterly dividend of $0.235 per share for an annualized yield of about 1.7%.

Calamos Wealth Management LLC bought a new position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 78,416 shares of the biopharmaceutical company's stock, valued at approximately $3,762,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LM Advisors LLC bought a new stake in shares of Royalty Pharma in the 4th quarter valued at approximately $26,000. Lloyd Advisory Services LLC. bought a new position in Royalty Pharma during the fourth quarter valued at approximately $30,000. Private Trust Co. NA raised its position in Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. Blue Trust Inc. lifted its stake in Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 437 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Royalty Pharma by 66.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company's stock valued at $43,000 after acquiring an additional 446 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on RPRX shares. Wall Street Zen raised shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Weiss Ratings downgraded shares of Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, May 15th. Morgan Stanley lifted their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. Citigroup upped their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, TD Cowen increased their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $56.57.

Royalty Pharma Stock Up 0.0%

Shares of RPRX stock opened at $56.45 on Tuesday. Royalty Pharma PLC has a 12 month low of $34.08 and a 12 month high of $58.84. The firm has a market cap of $32.51 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 1.55 and a beta of 0.43. The stock has a 50 day moving average of $54.48 and a 200-day moving average of $48.08. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.08. The business had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. On average, equities analysts predict that Royalty Pharma PLC will post 5.06 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. Royalty Pharma's dividend payout ratio is currently 63.95%.

Insider Activity at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.06, for a total value of $726,073.04. Following the transaction, the executive vice president owned 31,881 shares in the company, valued at $1,691,605.86. This represents a 30.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 427,800 shares of company stock worth $23,333,723 over the last ninety days. Corporate insiders own 18.84% of the company's stock.

Royalty Pharma Company Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company's transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.