NJ State Employees Deferred Compensation Plan Purchases Shares of 24,000 Royalty Pharma plc (NASDAQ:RPRX)

NJ State Employees Deferred Compensation Plan acquired a new position in Royalty Pharma plc (NASDAQ:RPRX) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 24,000 shares of the biopharmaceutical company’s stock, valued at approximately $674,000.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in Royalty Pharma by 9.3% in the third quarter. Victory Capital Management Inc. now owns 338,890 shares of the biopharmaceutical company’s stock valued at $9,197,000 after acquiring an additional 28,851 shares during the last quarter. Korea Investment CORP lifted its stake in Royalty Pharma by 498.0% during the third quarter. Korea Investment CORP now owns 226,653 shares of the biopharmaceutical company’s stock worth $6,151,000 after purchasing an additional 188,754 shares in the last quarter. Synovus Financial Corp boosted its holdings in Royalty Pharma by 26.0% during the 3rd quarter. Synovus Financial Corp now owns 119,741 shares of the biopharmaceutical company’s stock valued at $3,250,000 after acquiring an additional 24,721 shares during the period. Northern Trust Corp boosted its holdings in Royalty Pharma by 9.4% in the third quarter. Northern Trust Corp now owns 2,597,949 shares of the biopharmaceutical company’s stock valued at $70,508,000 after purchasing an additional 224,261 shares during the period. Finally, Dark Forest Capital Management LP boosted its stake in shares of Royalty Pharma by 43.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 66,710 shares of the biopharmaceutical company’s stock valued at $1,811,000 after buying an additional 20,361 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

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

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

Royalty Pharma Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Royalty Pharma Company 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.