L2 Asset Management LLC Has $5.63 Million Stock Position in Royalty Pharma PLC $RPRX

Key Points

• L2 Asset Management LLC boosted its stake in Royalty Pharma by 58.1% in the fourth quarter, ending with 145,754 shares valued at about $5.63 million.
• Royalty Pharma reported Q1 earnings of $1.30 per share, topping estimates, though revenue of $630.6 million came in below analyst expectations. The company also pays a quarterly dividend of $0.235 per share, or $0.94 annualized, for a 1.7% yield.
• Analyst sentiment remains positive overall, with seven Buy ratings and an average target price of $53.71; however, several insiders recently sold shares, including the CFO and EVP under pre-arranged trading plans.

L2 Asset Management LLC increased its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 58.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,754 shares of the biopharmaceutical company's stock after buying an additional 53,539 shares during the period. L2 Asset Management LLC's holdings in Royalty Pharma were worth $5,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RPRX. LM Advisors LLC acquired a new position in Royalty Pharma during the 4th quarter worth about $26,000. Lloyd Advisory Services LLC. acquired a new position in Royalty Pharma during the 4th quarter worth about $30,000. Smartleaf Asset Management LLC lifted its position in Royalty Pharma by 868.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 790 shares in the last quarter. Private Trust Co. NA lifted its position in Royalty Pharma by 52.9% during the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 288 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Royalty Pharma by 66.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company's stock worth $43,000 after buying an additional 446 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Stock Down 1.1%

NASDAQ RPRX opened at $54.27 on Tuesday. The stock has a fifty day moving average of $51.71 and a 200-day moving average of $45.72. The stock has a market capitalization of $31.25 billion, a P/E ratio of 36.92, a price-to-earnings-growth ratio of 1.51 and a beta of 0.43. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $56.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. The company had revenue of $630.58 million during the quarter, compared to analysts' expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, equities research analysts forecast that Royalty Pharma PLC will post 5.05 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed 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 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 payout ratio is 63.95%.

Analyst Upgrades and Downgrades

RPRX has been the topic of several research reports. Wall Street Zen upgraded shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. lifted their target price on Royalty Pharma from $50.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Weiss Ratings cut Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 15th. Morgan Stanley lifted their target price on Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. Finally, Citigroup lifted their target price on Royalty Pharma from $50.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $53.71.

Insider Buying and Selling

In related news, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total transaction of $721,831.00. Following the completion of the sale, the executive vice president directly owned 18,197 shares of the company's stock, valued at $959,891.75. The trade was a 42.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. 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 199,185 shares of company stock valued at $10,082,926 over the last three months. Company insiders own 18.84% of the company's stock.

Royalty Pharma 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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