24,000 Shares in Royalty Pharma plc (NASDAQ:RPRX) Acquired by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan acquired a new position in shares of Royalty Pharma plc (NASDAQ:RPRX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 24,000 shares of the biopharmaceutical company’s stock, valued at approximately $674,000.

Other hedge funds have also modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its position in shares of Royalty Pharma by 13.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 9,840,000 shares of the biopharmaceutical company’s stock valued at $267,058,000 after purchasing an additional 1,190,000 shares during the last quarter. Morgan Stanley increased its holdings in shares of Royalty Pharma by 1.5% during the 3rd quarter. Morgan Stanley now owns 48,132,615 shares of the biopharmaceutical company’s stock worth $1,306,319,000 after purchasing an additional 702,754 shares during the period. California Public Employees Retirement System raised its position in shares of Royalty Pharma by 49.2% during the third quarter. California Public Employees Retirement System now owns 2,026,131 shares of the biopharmaceutical company’s stock valued at $54,989,000 after buying an additional 667,827 shares during the last quarter. Vanguard Group Inc. increased its stake in Royalty Pharma by 1.5% during the third quarter. Vanguard Group Inc. now owns 39,437,354 shares of the biopharmaceutical company’s stock valued at $1,070,330,000 after acquiring an additional 589,558 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in Royalty Pharma by 45.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,710,872 shares of the biopharmaceutical company’s stock valued at $46,433,000 after buying an additional 531,529 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. The Goldman Sachs Group dropped their target price on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Bank of America cut their price objective on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $46.75.

Royalty Pharma Stock Down 0.4 %

Shares of NASDAQ:RPRX traded down $0.11 during midday trading on Friday, reaching $28.00. The company had a trading volume of 1,358,118 shares, compared to its average volume of 2,659,337. The business’s 50 day moving average price is $29.65 and its 200 day moving average price is $28.54. Royalty Pharma plc has a 1-year low of $25.92 and a 1-year high of $35.76. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.61. The stock has a market cap of $16.73 billion, a PE ratio of 14.87 and a beta of 0.45.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. The firm had revenue of $736.00 million during the quarter, compared to analysts’ expectations of $702.90 million. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. Research analysts forecast that Royalty Pharma plc will post 3.95 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.00%. Royalty Pharma’s payout ratio is presently 44.44%.

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.