Raymond James Financial Inc. Takes $19.99 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

Raymond James Financial Inc. bought a new position in Royalty Pharma plc (NASDAQ:RPRX) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 783,633 shares of the biopharmaceutical company’s stock, valued at approximately $19,990,000.

Other large investors have also recently added to or reduced their stakes in the company. APG Asset Management N.V. boosted its holdings in shares of Royalty Pharma by 4.8% during the 4th quarter. APG Asset Management N.V. now owns 382,906 shares of the biopharmaceutical company’s stock worth $9,433,000 after buying an additional 17,406 shares during the period. Invesco Ltd. lifted its position in Royalty Pharma by 33.2% during the 4th quarter. Invesco Ltd. now owns 957,893 shares of the biopharmaceutical company’s stock worth $24,436,000 after acquiring an additional 238,508 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in Royalty Pharma by 36.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,890 shares of the biopharmaceutical company’s stock valued at $125,000 after acquiring an additional 1,312 shares during the period. Russell Investments Group Ltd. grew its position in shares of Royalty Pharma by 32.0% in the fourth quarter. Russell Investments Group Ltd. now owns 1,855,791 shares of the biopharmaceutical company’s stock valued at $47,319,000 after purchasing an additional 449,551 shares during the last quarter. Finally, Aviva PLC grew its position in shares of Royalty Pharma by 1,522.0% in the fourth quarter. Aviva PLC now owns 229,069 shares of the biopharmaceutical company’s stock valued at $5,844,000 after purchasing an additional 214,946 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RPRX. TD Cowen upgraded 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 equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and a consensus price target of $42.50.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $32.51 on Friday. The business’s 50 day moving average is $32.57 and its 200-day moving average is $29.28. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $18.74 billion, a PE ratio of 22.42, a PEG ratio of 2.31 and a beta of 0.50. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.20.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. Sell-side analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current year.

About Royalty Pharma

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.