Pallas Capital Advisors LLC Has $3.13 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

Pallas Capital Advisors LLC increased its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,447 shares of the biopharmaceutical company's stock after buying an additional 8,113 shares during the period. Pallas Capital Advisors LLC's holdings in Royalty Pharma were worth $3,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. grew its position in shares of Royalty Pharma by 31.3% during the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 376 shares during the last quarter. Spire Wealth Management raised its holdings in Royalty Pharma by 377.6% during the 4th quarter. Spire Wealth Management now owns 2,149 shares of the biopharmaceutical company's stock worth $55,000 after buying an additional 1,699 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Royalty Pharma by 303.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock worth $13,926,000 after buying an additional 406,123 shares during the period. Values First Advisors Inc. raised its holdings in Royalty Pharma by 53.3% during the 4th quarter. Values First Advisors Inc. now owns 15,963 shares of the biopharmaceutical company's stock worth $407,000 after buying an additional 5,551 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Royalty Pharma by 25.3% during the 4th quarter. Van ECK Associates Corp now owns 127,140 shares of the biopharmaceutical company's stock worth $3,243,000 after buying an additional 25,640 shares during the period. Institutional investors own 54.35% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RPRX shares. Morgan Stanley started coverage on Royalty Pharma in a report on Friday, May 16th. They set an "overweight" rating and a $51.00 price objective on the stock. Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $47.33.

Royalty Pharma Stock Performance

RPRX stock traded down $0.43 during midday trading on Friday, hitting $34.84. 3,524,988 shares of the company traded hands, compared to its average volume of 3,604,069. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $35.37. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The business has a 50 day simple moving average of $32.74 and a 200-day simple moving average of $30.86. The stock has a market capitalization of $19.59 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 2.31 and a beta of 0.48.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, equities research analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.53%. Royalty Pharma's payout ratio is 47.57%.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.