Gateway Wealth Partners LLC Takes $565,000 Position in Royalty Pharma PLC $RPRX

Gateway Wealth Partners LLC acquired a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 11,774 shares of the biopharmaceutical company’s stock, valued at approximately $565,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RPRX. LM Advisors LLC bought a new position in Royalty Pharma in the fourth quarter valued at about $26,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Royalty Pharma during the fourth quarter valued at about $30,000. Private Trust Co. NA grew its holdings in shares of Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 437 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Royalty Pharma by 66.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 446 shares during the period. Institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. UBS Group boosted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Morgan Stanley upped their price target on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. JPMorgan Chase & Co. boosted their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, TD Cowen increased their price objective on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 13th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $56.57.

Insider Transactions at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $56.52, for a total value of $5,652,000.00. Following the completion of the transaction, the executive vice president owned 459,399 shares in the company, valued at approximately $25,965,231.48. The trade was a 17.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 393,009 shares of company stock valued at $21,601,827. 18.84% of the stock is currently owned by corporate insiders.

Royalty Pharma Stock Down 0.3%

Shares of NASDAQ RPRX opened at $59.02 on Friday. The firm has a market cap of $33.99 billion, a PE ratio of 40.15, a P/E/G ratio of 10.48 and a beta of 0.43. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $60.44. The company’s fifty day simple moving average is $56.11 and its 200 day simple moving average is $49.80. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million during the quarter, compared to the consensus estimate of $881.69 million. As a group, sell-side analysts forecast that Royalty Pharma PLC will post 5.18 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Royalty Pharma Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.