Headlands Technologies LLC Sells 33,066 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Headlands Technologies LLC reduced its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 88.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,489 shares of the biopharmaceutical company's stock after selling 33,066 shares during the quarter. Headlands Technologies LLC's holdings in Royalty Pharma were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RPRX. Verition Fund Management LLC boosted its holdings in Royalty Pharma by 39.7% in the 3rd quarter. Verition Fund Management LLC now owns 27,869 shares of the biopharmaceutical company's stock worth $788,000 after buying an additional 7,919 shares during the period. Investment Management Corp of Ontario lifted its position in shares of Royalty Pharma by 47.5% in the third quarter. Investment Management Corp of Ontario now owns 12,733 shares of the biopharmaceutical company's stock valued at $360,000 after acquiring an additional 4,100 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Royalty Pharma by 2.8% in the third quarter. Royal London Asset Management Ltd. now owns 160,184 shares of the biopharmaceutical company's stock worth $4,532,000 after acquiring an additional 4,307 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Royalty Pharma by 43.0% in the third quarter. Quantinno Capital Management LP now owns 56,435 shares of the biopharmaceutical company's stock worth $1,597,000 after acquiring an additional 16,982 shares during the period. Finally, State Street Corp grew its position in shares of Royalty Pharma by 0.3% during the third quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company's stock worth $269,215,000 after purchasing an additional 29,451 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several research analyst reports. Citigroup reaffirmed 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 report on Tuesday, December 24th. One 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's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $41.60.

Royalty Pharma Price Performance

RPRX stock traded up $0.74 during trading on Friday, hitting $31.95. 5,897,307 shares of the company's stock traded hands, compared to its average volume of 3,242,342. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $34.20. The stock has a market capitalization of $18.42 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 2.31 and a beta of 0.50. The business has a fifty day simple moving average of $32.50 and a 200 day simple moving average of $29.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current 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 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%. As a group, research analysts expect that Royalty Pharma plc will post 4.49 EPS for the current fiscal 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.