ExodusPoint Capital Management LP Boosts Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

ExodusPoint Capital Management LP raised its stake in Royalty Pharma plc (NASDAQ:RPRX) by 145.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 485,198 shares of the biopharmaceutical company’s stock after purchasing an additional 287,283 shares during the period. ExodusPoint Capital Management LP owned 0.08% of Royalty Pharma worth $14,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its stake in shares of Royalty Pharma by 210.8% during the second quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 546 shares during the last quarter. Sageworth Trust Co acquired a new stake in shares of Royalty Pharma during the 1st quarter worth about $31,000. Altshuler Shaham Ltd acquired a new stake in shares of Royalty Pharma during the 1st quarter worth about $44,000. CWM LLC increased its position in shares of Royalty Pharma by 33.8% during the 1st quarter. CWM LLC now owns 2,080 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 526 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Royalty Pharma by 320.0% during the 1st quarter. Signaturefd LLC now owns 2,230 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 1,699 shares during the last quarter. Hedge funds and other institutional investors own 49.03% of the company’s stock.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $26.55 on Tuesday. The business has a 50-day moving average of $27.30 and a 200 day moving average of $29.95. Royalty Pharma plc has a 12 month low of $25.92 and a 12 month high of $44.47. The stock has a market capitalization of $15.86 billion, a price-to-earnings ratio of 86.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 13.51 and a quick ratio of 13.51.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Thursday, November 16th. Royalty Pharma’s payout ratio is presently 258.06%.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Royalty Pharma from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. TheStreet cut Royalty Pharma from a “c” rating to a “d+” rating in a report on Friday, November 10th. Finally, StockNews.com started coverage on Royalty Pharma in a report on Thursday, October 5th. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Royalty Pharma 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.