Royalty Pharma PLC $RPRX Shares Purchased by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management increased its Royalty Pharma stake by 23.7% in the third quarter, purchasing 42,817 additional shares for a total of 223,527 shares valued at approximately $13.0 million.
• Analysts remain broadly positive on RPRX, with eight Buy ratings, an average rating of “Buy,” and a consensus price target of $61.57; recent targets range as high as $67.
• Royalty Pharma reported quarterly EPS of $1.32, exceeding the $1.27 consensus estimate, while shares recently traded at $59.62 within a $35.87–$64.38 12-month range.

Triasima Portfolio Management inc. raised its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 23.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 223,527 shares of the biopharmaceutical company's stock after purchasing an additional 42,817 shares during the quarter. Royalty Pharma accounts for about 1.7% of Triasima Portfolio Management inc.'s portfolio, making the stock its 16th biggest position. Triasima Portfolio Management inc.'s holdings in Royalty Pharma were worth $13,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RPRX. Blue Trust Inc. boosted its position in shares of Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 437 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Royalty Pharma by 89.2% during the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 413 shares in the last quarter. Bessemer Group Inc. grew its holdings in Royalty Pharma by 34.7% during the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company's stock worth $53,000 after buying an additional 282 shares in the last quarter. IFP Advisors Inc raised its position in Royalty Pharma by 263.3% in the 2nd quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 861 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS purchased a new stake in Royalty Pharma in the 1st quarter valued at $95,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RPRX shares. Bank of America restated a "buy" rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 26th. The Goldman Sachs Group reiterated a "buy" rating and issued a $66.00 target price on shares of Royalty Pharma in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, Morgan Stanley raised their price target on shares of Royalty Pharma from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. Eight investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Royalty Pharma has an average rating of "Buy" and a consensus target price of $61.57.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $59.62 on Friday. Royalty Pharma PLC has a twelve month low of $35.87 and a twelve month high of $64.38. The stock's 50 day moving average price is $59.34 and its 200-day moving average price is $55.68. The company has a market capitalization of $34.28 billion, a PE ratio of 41.12, a PEG ratio of 1.62 and a beta of 0.42. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. The company had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. On average, equities analysts anticipate that Royalty Pharma PLC will post 5.29 EPS for the current year.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, EVP Marshall Urist sold 4,126 shares of the business's stock in a transaction on Monday, October 5th. The stock was sold at an average price of $57.10, for a total value of $235,594.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the company's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the transaction, the executive vice president owned 270,401 shares of the company's stock, valued at $15,826,570.53. This trade represents a 27.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 208,252 shares of company stock worth $12,324,407. Insiders own 18.84% of the company's stock.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty acquisition company that provides funding to life sciences companies in exchange for rights to future payments associated with approved or development-stage medicines. Its business model gives biotechnology and pharmaceutical companies access to capital while allowing Royalty Pharma to participate in the commercial success of therapies without directly developing or marketing them.

The company invests in royalties and other economic interests tied to a broad range of biopharmaceutical products, including treatments for cancer, rare diseases, immune disorders, diabetes and other chronic conditions.

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