Pallas Capital Advisors LLC Invests $2.36 Million in Royalty Pharma plc (NASDAQ:RPRX)

Pallas Capital Advisors LLC purchased a new position in Royalty Pharma plc (NASDAQ:RPRX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 92,334 shares of the biopharmaceutical company’s stock, valued at approximately $2,355,000.

A number of other institutional investors have also recently added to or reduced their stakes in RPRX. Charles Schwab Investment Management Inc. increased its position in Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after acquiring an additional 1,103,341 shares during the period. Two Sigma Advisers LP raised its stake in shares of Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock valued at $85,809,000 after purchasing an additional 936,900 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Royalty Pharma in the 3rd quarter valued at about $14,898,000. Geode Capital Management LLC increased its stake in Royalty Pharma by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock valued at $205,562,000 after buying an additional 417,490 shares during the period. Finally, Dark Forest Capital Management LP raised its position in shares of Royalty Pharma by 2,974.4% during the 2nd quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock worth $8,931,000 after buying an additional 327,659 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on RPRX. TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. Citigroup dropped their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $41.67.

Royalty Pharma Stock Up 1.7 %

RPRX traded up $0.50 during trading on Monday, reaching $29.99. 7,815,175 shares of the stock traded hands, compared to its average volume of 3,794,216. The stock’s 50-day simple moving average is $25.94 and its two-hundred day simple moving average is $27.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $31.66. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 4.36 and a beta of 0.47.

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be paid a $0.22 dividend. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, February 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.93%. Royalty Pharma’s payout ratio is presently 45.60%.

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.