Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Royalty Pharma PLC $RPRX

Key Points

• Mitsubishi UFJ Asset Management increased its Royalty Pharma stake by 15.7% in the fourth quarter, ending with 413,075 shares valued at about $16.1 million.
• Insiders have been selling shares: CFO Terrance P. Coyne sold 34,791 shares in late April, and insiders have sold 139,164 shares over the past 90 days.
• Analysts remain bullish on Royalty Pharma, with several firms raising price targets; the stock now carries a consensus Buy rating and an average target price of $53.71.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 413,075 shares of the biopharmaceutical company's stock after purchasing an additional 56,043 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Royalty Pharma worth $16,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company's stock valued at $1,673,000 after buying an additional 255 shares during the period. Truist Financial Corp lifted its stake in shares of Royalty Pharma by 1.1% in the 4th quarter. Truist Financial Corp now owns 27,769 shares of the biopharmaceutical company's stock worth $1,073,000 after acquiring an additional 303 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in shares of Royalty Pharma in the fourth quarter valued at about $2,434,000. CM Management LLC boosted its holdings in shares of Royalty Pharma by 50.0% in the fourth quarter. CM Management LLC now owns 75,000 shares of the biopharmaceutical company's stock valued at $2,898,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of Royalty Pharma by 2.8% during the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company's stock worth $360,000 after acquiring an additional 252 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Terrance P. Coyne sold 34,791 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $49.78, for a total value of $1,731,895.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 139,164 shares of company stock valued at $6,624,902. Company insiders own 18.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RPRX. Citigroup increased their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday. TD Cowen reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, February 27th. The Goldman Sachs Group restated a "buy" rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Finally, Wall Street Zen raised Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $53.71.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $50.79 on Monday. The stock has a market capitalization of $29.30 billion, a price-to-earnings ratio of 34.55, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. Royalty Pharma PLC has a 52 week low of $32.15 and a 52 week high of $51.65. The firm has a 50-day moving average price of $47.62 and a 200 day moving average price of $42.75. 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 issued 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. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The company had revenue of $631.00 million for the quarter, compared to analyst estimates of $881.69 million. Equities research analysts anticipate that Royalty Pharma PLC will post 5.04 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a $0.235 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.9%. Royalty Pharma's dividend payout ratio is currently 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.

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.