Overbrook Management Corp Has $3.02 Million Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Overbrook Management Corp lessened its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 118,408 shares of the biopharmaceutical company’s stock after selling 22,500 shares during the quarter. Overbrook Management Corp’s holdings in Royalty Pharma were worth $3,021,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RPRX. Charles Schwab Investment Management Inc. boosted its stake in shares of Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after purchasing an additional 1,103,341 shares during the last quarter. Two Sigma Advisers LP boosted its position in Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock valued at $85,809,000 after acquiring an additional 936,900 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Royalty Pharma during the third quarter valued at $14,898,000. Geode Capital Management LLC grew its holdings in Royalty Pharma by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after acquiring an additional 417,490 shares during the period. Finally, Dark Forest Capital Management LP raised its position in shares of Royalty Pharma by 2,974.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock worth $8,931,000 after acquiring an additional 327,659 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RPRX shares. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. Finally, Citigroup lowered their price objective on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $41.67.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $30.75 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $26.31 and a two-hundred day simple moving average of $27.19. Royalty Pharma plc has a 12 month low of $24.05 and a 12 month high of $31.66. The firm has a market capitalization of $18.12 billion, a PE ratio of 15.93 and a beta of 0.47.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s dividend payout ratio is currently 43.52%.

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.