ExodusPoint Capital Management LP Invests $3.66 Million in Royalty Pharma plc (NASDAQ:RPRX)

ExodusPoint Capital Management LP purchased a new position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 143,601 shares of the biopharmaceutical company's stock, valued at approximately $3,663,000.

Several other hedge funds have also recently made changes to their positions in RPRX. Keene & Associates Inc. grew its stake in Royalty Pharma by 1.9% during the fourth quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company's stock worth $495,000 after purchasing an additional 370 shares during the period. National Bank of Canada FI grew its position in shares of Royalty Pharma by 21.8% during the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after buying an additional 371 shares during the period. Blue Trust Inc. grew its position in shares of Royalty Pharma by 31.3% during the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 376 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Royalty Pharma by 0.9% in the 4th quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company's stock valued at $1,068,000 after acquiring an additional 388 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Royalty Pharma by 0.5% during the 4th quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company's stock valued at $2,822,000 after acquiring an additional 537 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Up 2.4 %

RPRX stock traded up $0.74 during mid-day trading on Friday, reaching $31.95. 5,897,307 shares of the company traded hands, compared to its average volume of 3,242,342. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 2.31 and a beta of 0.50. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $34.20. The firm's 50 day moving average price is $32.50 and its 200 day moving average price is $29.14. 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 (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. As a group, equities research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RPRX. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. TD Cowen raised Royalty Pharma to a "strong-buy" rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Royalty Pharma has an average rating of "Buy" and a consensus target price of $41.60.

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.