Russell Investments Group Ltd. Buys 449,551 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Russell Investments Group Ltd. increased its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,855,791 shares of the biopharmaceutical company's stock after buying an additional 449,551 shares during the period. Russell Investments Group Ltd. owned 0.31% of Royalty Pharma worth $47,319,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Keene & Associates Inc. lifted its holdings in shares of Royalty Pharma by 1.9% in the fourth quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company's stock worth $495,000 after buying an additional 370 shares in the last quarter. National Bank of Canada FI lifted its stake in Royalty Pharma by 21.8% in the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 371 shares in the last quarter. Blue Trust Inc. boosted its holdings in Royalty Pharma by 31.3% in the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 376 shares during the period. Sanctuary Advisors LLC grew its position in shares of Royalty Pharma by 0.9% during the 4th quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company's stock valued at $1,068,000 after purchasing an additional 388 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Royalty Pharma by 0.5% in the fourth quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company's stock worth $2,822,000 after purchasing an additional 537 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of RPRX stock traded up $0.74 during trading hours on Friday, hitting $31.95. 5,897,307 shares of the company's stock were exchanged, 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 PEG 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 12-month low of $24.05 and a 12-month high of $34.20. The business's 50 day simple moving average is $32.50 and its 200-day simple moving average is $29.14.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RPRX shares. TD Cowen raised Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average 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.