Korea Investment CORP grew its stake in Royalty Pharma plc (NASDAQ:RPRX – Get Rating) by 27.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,224 shares of the biopharmaceutical company’s stock after purchasing an additional 13,737 shares during the quarter. Korea Investment CORP’s holdings in Royalty Pharma were worth $2,538,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in RPRX. Envestnet Asset Management Inc. lifted its stake in shares of Royalty Pharma by 34.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,524 shares of the biopharmaceutical company’s stock valued at $332,000 after purchasing an additional 2,176 shares during the period. Advisor Group Holdings Inc. lifted its stake in shares of Royalty Pharma by 9.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,265 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 366 shares during the period. US Bancorp DE lifted its stake in shares of Royalty Pharma by 48.1% in the 1st quarter. US Bancorp DE now owns 11,105 shares of the biopharmaceutical company’s stock valued at $433,000 after purchasing an additional 3,608 shares during the period. PNC Financial Services Group Inc. raised its stake in Royalty Pharma by 54.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 1,208 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Royalty Pharma by 644.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,759 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 4,985 shares during the period. Institutional investors and hedge funds own 55.36% of the company’s stock.
Royalty Pharma Price Performance
Shares of NASDAQ RPRX opened at $33.42 on Monday. The stock has a market capitalization of $20.29 billion, a price-to-earnings ratio of 60.76, a PEG ratio of 0.91 and a beta of 0.42. The business has a 50-day moving average of $34.94 and a 200-day moving average of $37.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.36 and a quick ratio of 2.36. Royalty Pharma plc has a fifty-two week low of $32.02 and a fifty-two week high of $44.66.
Royalty Pharma Dividend Announcement
Insider Buying and Selling
In other Royalty Pharma news, CEO Pablo G. Legorreta purchased 150,000 shares of Royalty Pharma stock in a transaction that occurred on Wednesday, May 24th. The stock was acquired at an average price of $32.25 per share, for a total transaction of $4,837,500.00. Following the completion of the acquisition, the chief executive officer now owns 380,000 shares of the company’s stock, valued at approximately $12,255,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Pablo G. Legorreta acquired 150,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was purchased at an average cost of $32.25 per share, for a total transaction of $4,837,500.00. Following the completion of the transaction, the chief executive officer now directly owns 380,000 shares of the company’s stock, valued at approximately $12,255,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP George W. Lloyd sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $37.06, for a total transaction of $3,706,000.00. Following the sale, the executive vice president now owns 225,000 shares of the company’s stock, valued at $8,338,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,859,926 shares of company stock worth $61,507,766. Company insiders own 24.86% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on RPRX shares. Tigress Financial raised their price objective on Royalty Pharma from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. TheStreet downgraded Royalty Pharma from a “c-” rating to a “d+” rating in a research note on Tuesday, February 21st. UBS Group dropped their price objective on Royalty Pharma from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, February 16th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Friday, May 26th. Finally, Morgan Stanley increased their target price on Royalty Pharma from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 10th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $54.00.
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.
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