Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board cut its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 32.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 22,601 shares of the biopharmaceutical company's stock after selling 10,748 shares during the period. Ontario Teachers Pension Plan Board's holdings in Royalty Pharma were worth $577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RPRX. Portolan Capital Management LLC grew its holdings in shares of Royalty Pharma by 101.9% during the fourth quarter. Portolan Capital Management LLC now owns 344,185 shares of the biopharmaceutical company's stock worth $8,780,000 after buying an additional 173,721 shares in the last quarter. Walleye Capital LLC purchased a new stake in Royalty Pharma during the 4th quarter valued at about $641,000. Barclays PLC raised its holdings in Royalty Pharma by 17.6% in the 4th quarter. Barclays PLC now owns 363,308 shares of the biopharmaceutical company's stock valued at $9,269,000 after acquiring an additional 54,421 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Royalty Pharma by 30.4% during the 4th quarter. Sterling Capital Management LLC now owns 34,595 shares of the biopharmaceutical company's stock worth $883,000 after purchasing an additional 8,071 shares during the last quarter. Finally, APG Asset Management US Inc. acquired a new position in Royalty Pharma during the fourth quarter worth $201,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RPRX has been the subject of several recent analyst reports. Citigroup restated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. TD Cowen raised Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $42.50.

Royalty Pharma Stock Up 0.6 %

RPRX stock traded up $0.20 during midday trading on Tuesday, reaching $32.39. 401,420 shares of the company were exchanged, compared to its average volume of 3,243,146. 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 stock's 50-day simple moving average is $32.56 and its 200 day simple moving average is $29.32. The company has a market cap of $18.67 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.20.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) 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%. On average, equities analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current year.

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.