AQR Capital Management LLC Raises Stake in Royalty Pharma plc (NASDAQ:RPRX)

AQR Capital Management LLC raised its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 69.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 785,567 shares of the biopharmaceutical company’s stock after buying an additional 320,606 shares during the quarter. AQR Capital Management LLC owned about 0.13% of Royalty Pharma worth $20,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ballentine Partners LLC lifted its stake in Royalty Pharma by 3.3% in the 1st quarter. Ballentine Partners LLC now owns 12,541 shares of the biopharmaceutical company’s stock worth $381,000 after purchasing an additional 406 shares in the last quarter. NEOS Investment Management LLC increased its holdings in shares of Royalty Pharma by 5.0% in the fourth quarter. NEOS Investment Management LLC now owns 8,589 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 409 shares during the period. Xponance Inc. raised its position in shares of Royalty Pharma by 1.9% in the second quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock worth $836,000 after buying an additional 606 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 655 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Royalty Pharma by 10.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,097 shares of the biopharmaceutical company’s stock valued at $276,000 after buying an additional 887 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. UBS Group cut shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Monday, June 3rd. Finally, Morgan Stanley lifted their price objective on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Royalty Pharma Stock Up 0.3 %

Shares of NASDAQ RPRX opened at $28.29 on Tuesday. The stock has a market capitalization of $16.79 billion, a P/E ratio of 21.11, a PEG ratio of 4.09 and a beta of 0.46. Royalty Pharma plc has a one year low of $25.20 and a one year high of $31.66. The firm’s 50 day simple moving average is $28.00 and its two-hundred day simple moving average is $27.89. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. The business had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, analysts expect that Royalty Pharma plc will post 4.04 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 16th were given a dividend of $0.21 per share. The ex-dividend date was Friday, August 16th. This represents a $0.84 annualized dividend and a yield of 2.97%. Royalty Pharma’s payout ratio is 62.69%.

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.