Delta Global Management LP Acquires Shares of 44,314 Royalty Pharma PLC $RPRX

Key Points

• Delta Global Management LP opened a new position in Royalty Pharma during the fourth quarter, buying 44,314 shares valued at about $1.71 million.
• Several other institutional investors also added to or initiated stakes in the biopharmaceutical company, and 54.35% of Royalty Pharma’s stock is now held by hedge funds and other institutions.
• Insider activity was mostly selling, with EVP Marshall Urist and Director Gregory Norden both trimming positions; meanwhile, analysts remain constructive, with the stock carrying a Buy consensus and an average price target of $53.71.

Delta Global Management LP acquired a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 44,314 shares of the biopharmaceutical company's stock, valued at approximately $1,712,000.

Other large investors also recently modified their holdings of the company. LM Advisors LLC purchased a new stake in shares of Royalty Pharma in the 4th quarter valued at approximately $26,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Royalty Pharma in the 4th quarter valued at approximately $30,000. Private Trust Co. NA increased its position in shares of Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Royalty Pharma by 868.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company's stock valued at $31,000 after purchasing an additional 790 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of Royalty Pharma by 66.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company's stock valued at $43,000 after purchasing an additional 446 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Marshall Urist sold 13,684 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $52.75, for a total value of $721,831.00. Following the completion of the sale, the executive vice president owned 18,197 shares in the company, valued at approximately $959,891.75. This trade represents a 42.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the sale, the director owned 191,803 shares of the company's stock, valued at $10,165,559. This trade represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 199,185 shares of company stock worth $10,082,926 in the last 90 days. Company insiders own 18.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RPRX shares. Citigroup increased their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Morgan Stanley increased their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, April 10th. UBS Group increased their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Weiss Ratings downgraded shares of Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday, February 27th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $53.71.

Royalty Pharma Stock Down 0.1%

Shares of NASDAQ:RPRX opened at $54.21 on Wednesday. The stock has a market cap of $31.22 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.49 and a beta of 0.43. The firm has a fifty day moving average price of $51.82 and a 200 day moving average price of $45.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. Royalty Pharma PLC has a 1-year low of $34.08 and a 1-year high of $56.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.08. The firm had revenue of $630.58 million during the quarter, compared to analysts' expectations of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. Sell-side analysts predict that Royalty Pharma PLC will post 5.05 EPS for the current year.

Royalty Pharma Dividend Announcement

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

About Royalty Pharma

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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