Odyssean LLC Acquires 21,401 Shares of Royalty Pharma PLC $RPRX

Key Points

• Odyssean LLC increased its Royalty Pharma stake by 65.3% in the second quarter, acquiring 21,401 shares for a total holding of 54,179 shares valued at approximately $3.04 million. Institutional investors own 54.35% of RPRX.
• Analysts remain bullish, with eight Buy ratings and an average price target of $60.86; Morgan Stanley and Goldman Sachs set targets of $65 and $66, respectively.
• Royalty Pharma reported quarterly EPS of $1.32, beating estimates by $0.05, while revenue of $674.14 million fell short of expectations. The company declared a quarterly dividend of $0.235, representing a 1.5% annualized yield.

Odyssean LLC grew its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 65.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,179 shares of the biopharmaceutical company's stock after acquiring an additional 21,401 shares during the period. Odyssean LLC's holdings in Royalty Pharma were worth $3,038,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. LM Advisors LLC bought a new stake in shares of Royalty Pharma during the 4th quarter valued at $26,000. Lloyd Advisory Services LLC. bought a new position in Royalty Pharma in the 4th quarter worth about $30,000. Blue Trust Inc. boosted its stake in Royalty Pharma by 173.4% in the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 437 shares during the period. CIBC Private Wealth Group LLC grew its holdings 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 valued at $43,000 after buying an additional 446 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in Royalty Pharma by 31.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 306 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Marshall Urist sold 9,099 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total value of $508,452.12. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total transaction of $5,997,000.00. Following the sale, the executive vice president owned 370,401 shares of the company's stock, valued at approximately $22,212,947.97. The trade was a 21.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 398,197 shares of company stock worth $22,513,280 over the last ninety days. 18.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RPRX has been the topic of several analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $65.00 price target on shares of Royalty Pharma in a research report on Thursday, August 6th. Wall Street Zen raised shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Royalty Pharma in a research note on Wednesday, August 12th. Bank of America reaffirmed a "buy" rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $66.00 target price on shares of Royalty Pharma in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $60.86.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $62.07 on Wednesday. The stock has a market cap of $35.69 billion, a price-to-earnings ratio of 42.81, a PEG ratio of 1.43 and a beta of 0.43. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The business has a 50-day simple moving average of $57.66 and a 200 day simple moving average of $52.13. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $62.46.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. The firm had revenue of $674.14 million for the quarter, compared to analysts' expectations of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. On average, research analysts forecast that Royalty Pharma PLC will post 5.3 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. Royalty Pharma's dividend payout ratio is 64.83%.

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.

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.

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