47,034 Royalty Pharma PLC $RPRX Shares Acquired by Calamos Advisors LLC
by Renee Jackson · The Cerbat GemCalamos Advisors LLC raised its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX – Free Report) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 620,555 shares of the biopharmaceutical company’s stock after buying an additional 47,034 shares during the period. Calamos Advisors LLC owned about 0.11% of Royalty Pharma worth $36,216,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its position in Royalty Pharma by 7.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,365 shares of the biopharmaceutical company’s stock worth $1,830,000 after acquiring an additional 2,248 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Royalty Pharma by 1.7% in the third quarter. Chicago Partners Investment Group LLC now owns 15,170 shares of the biopharmaceutical company’s stock valued at $969,000 after purchasing an additional 247 shares during the last quarter. Compass Financial Management LLC purchased a new stake in shares of Royalty Pharma during the third quarter valued at approximately $169,000. Rakuten Investment Management Inc. purchased a new stake in shares of Royalty Pharma during the third quarter valued at approximately $1,552,000. Finally, Provenance Wealth Advisors LLC bought a new position in shares of Royalty Pharma in the third quarter worth approximately $26,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.
Royalty Pharma Trading Down 0.4%
NASDAQ:RPRX traded down $0.27 during trading hours on Friday, hitting $67.30. The company had a trading volume of 4,835,293 shares, compared to its average volume of 3,199,374. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. The stock has a 50-day moving average price of $60.82 and a 200 day moving average price of $53.81. The company has a market capitalization of $38.70 billion, a PE ratio of 56.08, a price-to-earnings-growth ratio of 1.82 and a beta of 0.37. Royalty Pharma PLC has a 52 week low of $37.31 and a 52 week high of $69.77.
Royalty Pharma (NASDAQ:RPRX – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. The business had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. On average, equities research analysts predict that Royalty Pharma PLC will post 5.34 EPS for the current fiscal year.
Royalty Pharma Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.2350 per share. The ex-dividend date is Friday, November 13th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.4%. Royalty Pharma’s dividend payout ratio is 78.33%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on RPRX. Citigroup lifted their target price on shares of Royalty Pharma from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America reissued a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Morgan Stanley boosted their price objective on shares of Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $66.00 target price on shares of Royalty Pharma in a report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $63.29.
Read Our Latest Analysis on Royalty Pharma
Insider Activity at Royalty Pharma
In other news, EVP Christopher Hite sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the transaction, the executive vice president owned 270,401 shares in the company, valued at $15,826,570.53. This trade represents a 27.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $57.10, for a total value of $235,594.60. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 208,252 shares of company stock valued at $12,324,407 in the last three months. Corporate insiders own 18.84% of the company’s stock.
About Royalty Pharma
Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding.
The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.
Founded in 1996 by Pablo Legorreta, the company became publicly listed in 2020.
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