Commerzbank Aktiengesellschaft FI Invests $982,000 in Royalty Pharma PLC $RPRX

Key Points

• Commerzbank Aktiengesellschaft FI opened a new position in Royalty Pharma during the fourth quarter, buying 25,417 shares worth about $982,000.
• Institutional interest in RPRX remains strong, with several large funds increasing holdings and 54.35% of the stock now owned by institutional investors.
• Analysts are broadly bullish: the stock has a consensus Buy rating, and several firms recently raised price targets, including Citigroup to $66 and UBS to $57.

Commerzbank Aktiengesellschaft FI purchased a new position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 25,417 shares of the biopharmaceutical company's stock, valued at approximately $982,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RPRX. Capital International Investors boosted its position in shares of Royalty Pharma by 24.4% in the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company's stock worth $960,064,000 after purchasing an additional 5,332,074 shares during the last quarter. Dorsey Asset Management LLC bought a new position in shares of Royalty Pharma in the 3rd quarter worth $82,924,000. Qube Research & Technologies Ltd boosted its position in shares of Royalty Pharma by 737.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company's stock worth $87,557,000 after purchasing an additional 2,185,366 shares during the last quarter. Millennium Management LLC boosted its position in shares of Royalty Pharma by 379.2% in the 3rd quarter. Millennium Management LLC now owns 2,235,133 shares of the biopharmaceutical company's stock worth $78,855,000 after purchasing an additional 1,768,702 shares during the last quarter. Finally, Clark Capital Management Group Inc. bought a new position in shares of Royalty Pharma in the 3rd quarter worth $61,805,000. 54.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on RPRX. The Goldman Sachs Group restated a "buy" rating on shares of Royalty Pharma in a research report on Thursday, February 12th. Weiss Ratings upgraded Royalty Pharma from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 1st. Citigroup lifted their target price on Royalty Pharma from $50.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Morgan Stanley lifted their target price on Royalty Pharma from $61.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. Finally, UBS Group lifted their target price on Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $53.71.

Insider Activity

In other news, Director Gregory Norden sold 3,045 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the sale, the director directly owned 191,803 shares in the company, valued at $10,165,559. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 34,791 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $49.78, for a total value of $1,731,895.98. 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 have sold a total of 155,893 shares of company stock worth $7,512,360 over the last three months. Corporate insiders own 18.84% of the company's stock.

Royalty Pharma Stock Performance

RPRX stock opened at $52.85 on Friday. The business's 50-day moving average price is $48.31 and its two-hundred day moving average price is $43.35. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. The firm has a market cap of $30.43 billion, a PE ratio of 35.95, a P/E/G ratio of 1.45 and a beta of 0.40. Royalty Pharma PLC has a 1-year low of $32.15 and a 1-year high of $53.47.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. The firm had revenue of $631.00 million for the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. As a group, research analysts forecast that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, May 15th. Royalty Pharma's payout ratio is 63.95%.

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.

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