Proficio Capital Partners LLC Invests $786,000 in Royalty Pharma plc (NASDAQ:RPRX)

Proficio Capital Partners LLC purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 30,816 shares of the biopharmaceutical company's stock, valued at approximately $786,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Keene & Associates Inc. lifted its stake in Royalty Pharma by 1.9% in the 4th quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company's stock valued at $495,000 after acquiring an additional 370 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Royalty Pharma by 31.3% in the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 376 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Royalty Pharma by 0.9% during the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company's stock worth $1,068,000 after purchasing an additional 388 shares during the last quarter. GAMMA Investing LLC grew its position in Royalty Pharma by 31.4% in the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company's stock valued at $63,000 after purchasing an additional 590 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC grew its position in Royalty Pharma by 7.1% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 9,100 shares of the biopharmaceutical company's stock valued at $232,000 after purchasing an additional 600 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Separately, TD Cowen upgraded shares of Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Royalty Pharma presently has an average rating of "Buy" and an average target price of $41.60.

Royalty Pharma Stock Performance

RPRX stock traded down $2.20 during trading hours on Wednesday, reaching $31.56. The stock had a trading volume of 10,862,812 shares, compared to its average volume of 2,893,278. The stock has a 50-day simple moving average of $32.40 and a 200 day simple moving average of $28.78. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $34.20. The stock has a market capitalization of $18.19 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. 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 (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping 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%. Analysts predict that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were issued a dividend of $0.22 per share. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.79%. Royalty Pharma's dividend payout ratio (DPR) is currently 60.69%.

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.