Treasurer of the State of North Carolina Has $4.39 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

Treasurer of the State of North Carolina lessened its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,089 shares of the biopharmaceutical company’s stock after selling 10,837 shares during the period. Treasurer of the State of North Carolina’s holdings in Royalty Pharma were worth $4,390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Royalty Pharma in the fourth quarter valued at approximately $124,498,000. Swedbank AB increased its stake in shares of Royalty Pharma by 10.3% in the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock valued at $310,308,000 after purchasing an additional 1,136,800 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Royalty Pharma during the 4th quarter worth $19,990,000. New South Capital Management Inc. lifted its position in shares of Royalty Pharma by 19.9% during the 4th quarter. New South Capital Management Inc. now owns 2,957,125 shares of the biopharmaceutical company’s stock worth $75,436,000 after buying an additional 490,754 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Royalty Pharma by 32.0% in the fourth quarter. Russell Investments Group Ltd. now owns 1,855,791 shares of the biopharmaceutical company’s stock valued at $47,319,000 after buying an additional 449,551 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $32.45 on Wednesday. The business’s 50-day moving average price is $32.54 and its 200-day moving average price is $29.20. Royalty Pharma plc has a 12 month low of $24.05 and a 12 month high of $34.20. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results 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 net margin of 37.94% and a return on equity of 24.40%. Equities research analysts forecast that Royalty Pharma plc will post 4.49 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on RPRX. Citigroup reissued a “buy” rating on shares of Royalty Pharma in a research note on Friday, March 28th. TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Royalty Pharma has a consensus rating of “Buy” and an average target price of $42.50.

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.