Point72 Asset Management L.P. Sells 277,630 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Point72 Asset Management L.P. cut its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 52.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 249,003 shares of the biopharmaceutical company's stock after selling 277,630 shares during the quarter. Point72 Asset Management L.P.'s holdings in Royalty Pharma were worth $6,352,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group lifted its position in shares of Royalty Pharma by 1,006.9% in the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 876 shares during the last quarter. Allworth Financial LP raised its holdings in Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 877 shares in the last quarter. Riverview Trust Co raised its holdings in Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 1,186 shares in the last quarter. Fifth Third Bancorp raised its holdings in Royalty Pharma by 187.1% in the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 997 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Royalty Pharma by 31.3% in the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 376 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RPRX has been the topic of several recent analyst reports. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Morgan Stanley began coverage on Royalty Pharma in a report on Friday. They set an "overweight" rating and a $51.00 target price on the stock. Finally, StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Royalty Pharma currently has an average rating of "Buy" and a consensus target price of $42.50.

Royalty Pharma Stock Up 0.7%

RPRX stock opened at $34.25 on Tuesday. The stock's 50 day simple moving average is $32.42 and its 200 day simple moving average is $30.06. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $34.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $19.74 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, research analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, May 16th. Royalty Pharma's dividend payout ratio is presently 47.57%.

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.

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