Overbrook Management Corp Sells 60,000 Shares of Royalty Pharma PLC (NASDAQ:RPRX)

Overbrook Management Corp cut its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 50.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,408 shares of the biopharmaceutical company's stock after selling 60,000 shares during the period. Overbrook Management Corp's holdings in Royalty Pharma were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. grew its stake in shares of Royalty Pharma by 42.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock valued at $432,862,000 after buying an additional 5,069,127 shares during the last quarter. Geode Capital Management LLC increased its stake in Royalty Pharma by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company's stock worth $186,846,000 after purchasing an additional 46,765 shares during the period. Norges Bank purchased a new stake in Royalty Pharma in the fourth quarter worth $124,498,000. Two Sigma Advisers LP lifted its position in shares of Royalty Pharma by 21.1% during the fourth quarter. Two Sigma Advisers LP now owns 3,673,200 shares of the biopharmaceutical company's stock worth $93,703,000 after purchasing an additional 640,000 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Royalty Pharma by 12.8% during the fourth quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company's stock valued at $84,959,000 after purchasing an additional 376,619 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RPRX. Wall Street Zen upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Morgan Stanley assumed coverage on shares of Royalty Pharma in a research note on Friday, May 16th. They issued an "overweight" rating and a $51.00 target price on the stock. Finally, Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Royalty Pharma currently has an average rating of "Buy" and a consensus price target of $47.33.

Royalty Pharma Trading Up 1.7%

NASDAQ:RPRX traded up $0.60 during midday trading on Friday, hitting $35.87. The stock had a trading volume of 3,740,759 shares, compared to its average volume of 3,678,234. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $36.32. The company has a market capitalization of $20.17 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.81 and a beta of 0.48. The stock has a 50-day moving average of $33.47 and a 200 day moving average of $31.55. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68.

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. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. The company had revenue of $839.00 million for the quarter, compared to analysts' expectations of $724.69 million. As a group, sell-side analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 yield of 2.45%. Royalty Pharma's dividend payout ratio (DPR) is currently 47.57%.

Royalty Pharma Company Profile

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.