CenterBook Partners LP Sells 41,728 Shares of Royalty Pharma PLC (NASDAQ:RPRX)

Key Points

• CenterBook Partners LP reduced its stake in Royalty Pharma PLC by 39.8% in the first quarter, now holding 63,007 shares valued at approximately $1.96 million.
• Royalty Pharma PLC's latest earnings report indicated an EPS of $1.06, exceeding estimates, and the company announced a quarterly dividend of $0.22 per share.
• Analyst ratings for Royalty Pharma include one strong buy, three buys, and one hold, with a recent target price raised by Morgan Stanley from $51.00 to $54.00.

CenterBook Partners LP trimmed its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 39.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,007 shares of the biopharmaceutical company's stock after selling 41,728 shares during the period. CenterBook Partners LP's holdings in Royalty Pharma were worth $1,961,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Applied Finance Capital Management LLC raised its holdings in shares of Royalty Pharma by 3.0% during the 1st quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock valued at $351,000 after buying an additional 329 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Royalty Pharma by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after buying an additional 349 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Royalty Pharma by 21.8% during the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 371 shares in the last quarter. Sherbrooke Park Advisers LLC boosted its position in shares of Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock valued at $890,000 after purchasing an additional 380 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 414 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on RPRX. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup lifted their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their price target on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $49.00.

Royalty Pharma Stock Up 1.5%

Royalty Pharma stock traded up $0.57 during mid-day trading on Friday, hitting $37.58. The company had a trading volume of 2,814,756 shares, compared to its average volume of 2,630,224. The company has a current ratio of 1.26, a quick ratio of 1.56 and a debt-to-equity ratio of 0.74. The stock's 50 day moving average price is $35.69 and its two-hundred day moving average price is $33.56. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $38.00. The company has a market capitalization of $21.13 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.42 and a beta of 0.55.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. As a group, sell-side analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma's dividend payout ratio is presently 47.57%.

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.