Alliancebernstein L.P. Cuts Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Alliancebernstein L.P. lowered its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,154,178 shares of the biopharmaceutical company's stock after selling 125,842 shares during the quarter. Alliancebernstein L.P. owned about 0.20% of Royalty Pharma worth $29,443,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Royalty Pharma in the 4th quarter valued at $124,498,000. Swedbank AB grew its holdings in Royalty Pharma by 10.3% in the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock worth $310,308,000 after purchasing an additional 1,136,800 shares during the period. Raymond James Financial Inc. bought a new stake in Royalty Pharma in the fourth quarter valued at $19,990,000. New South Capital Management Inc. raised its holdings in shares of Royalty Pharma by 19.9% during the fourth quarter. New South Capital Management Inc. now owns 2,957,125 shares of the biopharmaceutical company's stock valued at $75,436,000 after purchasing an additional 490,754 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Royalty Pharma by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company's stock worth $205,562,000 after purchasing an additional 417,490 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Up 2.4 %

NASDAQ RPRX traded up $0.74 during trading hours on Friday, hitting $31.95. The company's stock had a trading volume of 5,897,307 shares, compared to its average volume of 3,242,342. The company has a market capitalization of $18.42 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50. 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 52 week low of $24.05 and a 52 week high of $34.20. The company's 50-day simple moving average is $32.50 and its two-hundred day simple moving average is $29.14.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Royalty Pharma has an average rating of "Buy" and a consensus price target 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.