Dark Forest Capital Management LP Has $3.42 Million Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Dark Forest Capital Management LP cut its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 134,116 shares of the biopharmaceutical company's stock after selling 10,362 shares during the quarter. Royalty Pharma accounts for 0.5% of Dark Forest Capital Management LP's portfolio, making the stock its 18th largest position. Dark Forest Capital Management LP's holdings in Royalty Pharma were worth $3,421,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its stake in Royalty Pharma by 16.3% during the third quarter. Barclays PLC now owns 308,887 shares of the biopharmaceutical company's stock valued at $8,737,000 after purchasing an additional 43,339 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Royalty Pharma during the 3rd quarter valued at $61,000. Franklin Resources Inc. boosted its stake in shares of Royalty Pharma by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company's stock worth $40,705,000 after acquiring an additional 70,130 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Royalty Pharma by 31.4% during the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company's stock worth $63,000 after acquiring an additional 590 shares in the last quarter. Finally, Ridgewood Investments LLC grew its holdings in shares of Royalty Pharma by 40.8% in the 4th quarter. Ridgewood Investments LLC now owns 30,735 shares of the biopharmaceutical company's stock worth $784,000 after acquiring an additional 8,913 shares during the last quarter. Institutional investors own 54.35% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $42.50.

Royalty Pharma Trading Up 0.5 %

NASDAQ RPRX traded up $0.17 on Friday, hitting $32.20. 3,442,452 shares of the stock were exchanged, compared to its average volume of 3,253,767. The company's 50-day moving average price is $32.52 and its two-hundred day moving average price is $29.42. 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 52-week low of $24.05 and a 52-week high of $34.20. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued 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 return on equity of 24.40% and a net margin of 37.94%. Research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The business 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 of this dividend is Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is 60.69%.

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.