Legal & General Group Plc Sells 478,679 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Legal & General Group Plc lessened its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,633,882 shares of the biopharmaceutical company's stock after selling 478,679 shares during the quarter. Legal & General Group Plc owned approximately 0.45% of Royalty Pharma worth $67,190,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Royalty Pharma by 33.2% in the 4th quarter. Invesco Ltd. now owns 957,893 shares of the biopharmaceutical company's stock valued at $24,436,000 after purchasing an additional 238,508 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of Royalty Pharma by 36.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,890 shares of the biopharmaceutical company's stock worth $125,000 after acquiring an additional 1,312 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in 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 acquiring an additional 449,551 shares in the last quarter. Aviva PLC increased its holdings in shares of Royalty Pharma by 1,522.0% in the 4th quarter. Aviva PLC now owns 229,069 shares of the biopharmaceutical company's stock valued at $5,844,000 after acquiring an additional 214,946 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Royalty Pharma by 29.1% during the 4th quarter. Wells Fargo & Company MN now owns 70,120 shares of the biopharmaceutical company's stock valued at $1,789,000 after acquiring an additional 15,790 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Up 1.3 %

Shares of Royalty Pharma stock traded up $0.40 on Thursday, hitting $32.59. 579,008 shares of the company traded hands, compared to its average volume of 3,237,309. The company has a market cap of $18.79 billion, a PE ratio of 22.46, a PEG ratio of 2.31 and a beta of 0.50. The company has a 50-day moving average price of $32.55 and a 200 day moving average price of $29.22. 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 plc has a 12-month low of $24.05 and a 12-month high of $34.20.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RPRX. TD Cowen upgraded shares of Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $42.50.

Royalty Pharma Company 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.