Adage Capital Partners GP L.L.C. Boosts Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Adage Capital Partners GP L.L.C. increased its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 42.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,968,321 shares of the biopharmaceutical company's stock after acquiring an additional 5,069,127 shares during the quarter. Royalty Pharma makes up 0.8% of Adage Capital Partners GP L.L.C.'s portfolio, making the stock its 18th biggest position. Adage Capital Partners GP L.L.C. owned 2.88% of Royalty Pharma worth $432,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GMT Capital Corp grew its holdings in Royalty Pharma by 5.5% during the 4th quarter. GMT Capital Corp now owns 3,267,700 shares of the biopharmaceutical company's stock worth $83,359,000 after acquiring an additional 170,200 shares in the last quarter. Uniplan Investment Counsel Inc. bought a new position in Royalty Pharma during the 4th quarter worth $1,019,000. Transce3nd LLC acquired a new stake in shares of Royalty Pharma in the 4th quarter worth about $61,000. MML Investors Services LLC bought a new stake in shares of Royalty Pharma during the fourth quarter valued at approximately $1,194,000. Finally, Ossiam boosted its position in Royalty Pharma by 78.6% during the 4th quarter. Ossiam now owns 14,243 shares of the biopharmaceutical company's stock worth $363,000 after acquiring an additional 6,268 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $32.19 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20. The business's 50-day moving average price is $32.56 and its two-hundred day moving average price is $29.34. The company has a market capitalization of $18.56 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. Analysts anticipate that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, May 16th. Royalty Pharma's dividend payout ratio is 60.69%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RPRX. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. TD Cowen raised shares of Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $42.50.

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.

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