Corton Capital Inc. Acquires New Holdings in Royalty Pharma PLC $RPRX
Corton Capital Inc. acquired 6,859 shares of Royalty Pharma PLC (NASDAQ:RPRX) valued at approximately $247,000 during Q2, as reported in its recent 13F filing. Other hedge funds also adjusted their stakes in Royalty Pharma. The stock opened at $37.30, with a market cap of $21.75 billion and a P/E ratio of 21.56. Royalty Pharma recently announced a quarterly dividend of $0.22 per share, payable on December 10th. Analysts have mixed ratings, with a consensus rating of "Buy" and a target price of $46.00.
Corton Capital Inc. bought a new position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,859 shares of the biopharmaceutical company's stock, valued at approximately $247,000.
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A number of other hedge funds have also added to or reduced their stakes in the stock. USA Financial Formulas purchased a new position in shares of Royalty Pharma in the 2nd quarter worth $32,000. Summit Securities Group LLC bought a new position in Royalty Pharma in the first quarter valued at about $36,000. WPG Advisers LLC bought a new position in Royalty Pharma in the first quarter valued at about $39,000. Allworth Financial LP boosted its position in Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 452 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Royalty Pharma by 42.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 402 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.
Royalty Pharma Stock Down 0.6%
Shares of RPRX stock opened at $37.30 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $38.00. The company's fifty day moving average price is $36.22 and its 200-day moving average price is $35.27. The company has a market capitalization of $21.75 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.06 and a beta of 0.56.
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Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $578.67 million during the quarter, compared to analyst estimates of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. Sell-side analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.
Royalty Pharma Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Royalty Pharma's dividend payout ratio (DPR) is currently 50.87%.
Analyst Upgrades and Downgrades
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Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They set a "buy" rating and a $42.00 price target on the stock. Weiss Ratings lowered Royalty Pharma from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Saturday, October 25th. Finally, Morgan Stanley decreased their target price on Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $46.00.
Read Our Latest Report on RPRX
Royalty Pharma Company Profile
(Free Report)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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