Franklin Resources Inc. Has $13.76 Million Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Franklin Resources Inc. reduced its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 539,481 shares of the biopharmaceutical company's stock after selling 921,034 shares during the period. Franklin Resources Inc. owned about 0.09% of Royalty Pharma worth $13,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Keene & Associates Inc. boosted its position in Royalty Pharma by 1.9% in the fourth quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company's stock valued at $495,000 after buying an additional 370 shares in the last quarter. Blue Trust Inc. boosted its holdings 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 valued at $45,000 after acquiring an additional 376 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Royalty Pharma by 0.9% during 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. Arizona State Retirement System grew its position in Royalty Pharma by 0.5% during the 4th quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company's stock worth $2,822,000 after acquiring an additional 537 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Royalty Pharma by 31.4% in the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company's stock worth $63,000 after purchasing an additional 590 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Trading Up 2.4 %

RPRX stock traded up $0.74 during trading on Friday, hitting $31.95. The company had a trading volume of 5,897,307 shares, compared to its average volume of 3,242,342. The stock has a market cap of $18.42 billion, a PE ratio of 22.03, a PEG ratio of 2.31 and a beta of 0.50. The business has a 50-day moving average of $32.50 and a 200-day moving average of $29.14. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (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%. Research analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RPRX. Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. TD Cowen upgraded shares of 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $41.60.

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.