Y Intercept Hong Kong Ltd Invests $238,000 in Royalty Pharma PLC (NASDAQ:RPRX)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,649 shares of the biopharmaceutical company's stock, valued at approximately $238,000.

A number of other hedge funds have also bought and sold shares of RPRX. Louisbourg Investments Inc. acquired a new position in Royalty Pharma during the first quarter valued at $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 414 shares during the period. Allworth Financial LP boosted its stake in shares of Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 452 shares during the last quarter. Westpac Banking Corp acquired a new stake in Royalty Pharma during the fourth quarter worth about $53,000. Finally, National Bank of Canada FI lifted its holdings in Royalty Pharma by 21.8% in the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 371 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Finally, Morgan Stanley raised their target price on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $49.00.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX traded down $0.32 during trading on Thursday, hitting $36.80. The company had a trading volume of 2,159,158 shares, compared to its average volume of 2,602,825. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $37.56. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $35.12 and a two-hundred day simple moving average of $33.28. The firm has a market capitalization of $20.69 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.47 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating 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 business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. On average, research analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $0.22 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. Royalty Pharma's dividend payout ratio is presently 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.