Covestor Ltd Sells 327 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Covestor Ltd cut its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,999 shares of the biopharmaceutical company’s stock after selling 327 shares during the period. Covestor Ltd’s holdings in Royalty Pharma were worth $204,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of Royalty Pharma by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock valued at $40,705,000 after acquiring an additional 70,130 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Royalty Pharma by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company’s stock valued at $79,888,000 after purchasing an additional 130,025 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Royalty Pharma in the 4th quarter worth about $2,355,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Royalty Pharma during the 4th quarter valued at about $4,950,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Royalty Pharma by 303.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company’s stock valued at $13,926,000 after acquiring an additional 406,123 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. Citigroup reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royalty Pharma has an average rating of “Buy” and an average price target of $41.60.

Royalty Pharma Price Performance

RPRX opened at $31.21 on Friday. The business has a fifty day moving average of $32.48 and a 200 day moving average of $29.11. The stock has a market cap of $17.99 billion, a P/E ratio of 21.52, a PEG ratio of 2.31 and a beta of 0.50. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $34.20.

Royalty Pharma (NASDAQ:RPRX) last issued its 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 net margin of 37.94% and a return on equity of 24.40%. As a group, sell-side analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current year.

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.