Rhenman & Partners Asset Management AB Sells 18,500 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Rhenman & Partners Asset Management AB lowered its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 595,000 shares of the biopharmaceutical company's stock after selling 18,500 shares during the period. Royalty Pharma makes up approximately 1.6% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 23rd biggest holding. Rhenman & Partners Asset Management AB owned approximately 0.10% of Royalty Pharma worth $15,178,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in Royalty Pharma by 29.1% in the 4th quarter. Wells Fargo & Company MN now owns 70,120 shares of the biopharmaceutical company's stock worth $1,789,000 after acquiring an additional 15,790 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new position in Royalty Pharma in the 4th quarter worth approximately $390,000. Prudential PLC raised its stake in Royalty Pharma by 220.1% during the fourth quarter. Prudential PLC now owns 119,443 shares of the biopharmaceutical company's stock worth $3,047,000 after purchasing an additional 82,125 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of Royalty Pharma during the 4th quarter worth $3,663,000. Finally, Westpac Banking Corp acquired a new position in Royalty Pharma during the fourth quarter worth $53,000. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RPRX shares. Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. TD Cowen upgraded 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $41.60.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX traded down $1.50 during trading hours on Thursday, hitting $30.77. 2,764,364 shares of the company's stock were exchanged, compared to its average volume of 3,213,746. The company's 50-day moving average price is $32.49 and its 200-day moving average price is $29.08. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of 21.21, a PEG 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 announced its quarterly earnings data 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 return on equity of 24.40% and a net margin of 37.94%. On average, sell-side analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

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.