Prudential PLC Raises Stake in Royalty Pharma plc (NASDAQ:RPRX)

Prudential PLC grew its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 220.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 119,443 shares of the biopharmaceutical company's stock after acquiring an additional 82,125 shares during the period. Prudential PLC's holdings in Royalty Pharma were worth $3,047,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. ExodusPoint Capital Management LP bought a new position in shares of Royalty Pharma during the fourth quarter worth about $3,663,000. Westpac Banking Corp bought a new position in Royalty Pharma during the fourth quarter worth $53,000. Trexquant Investment LP grew its stake in shares of Royalty Pharma by 482.1% in the 4th quarter. Trexquant Investment LP now owns 520,043 shares of the biopharmaceutical company's stock valued at $13,266,000 after buying an additional 430,697 shares during the period. Geode Capital Management LLC grew its stake in Royalty Pharma by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company's stock valued at $186,846,000 after acquiring an additional 46,765 shares during the period. Finally, National Bank of Canada FI increased its stake in 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 valued at $53,000 after purchasing an additional 371 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Price Performance

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 company has a fifty day moving average price of $32.50 and a 200-day moving average price of $29.14. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $34.20. The company has a market capitalization of $18.42 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.31 and a beta of 0.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

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

Analyst Ratings Changes

Several brokerages have recently commented on RPRX. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Royalty Pharma presently has an average rating of "Buy" and a consensus price target 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.