CenterBook Partners LP Sells 113,525 Shares of Royalty Pharma plc (NASDAQ:RPRX)

CenterBook Partners LP decreased its stake in Royalty Pharma plc (NASDAQ:RPRX) by 52.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 104,735 shares of the biopharmaceutical company’s stock after selling 113,525 shares during the quarter. CenterBook Partners LP’s holdings in Royalty Pharma were worth $2,672,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RPRX. Brooklyn Investment Group grew its position in Royalty Pharma by 1,006.9% in the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 876 shares in the last quarter. Allworth Financial LP lifted its stake in Royalty Pharma by 417.6% during the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 877 shares during the last quarter. Riverview Trust Co boosted its holdings in shares of Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 1,186 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Royalty Pharma by 187.1% during the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 997 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in shares of Royalty Pharma by 160.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 1,003 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Friday, March 28th. TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $41.60.

Royalty Pharma Stock Up 4.6 %

Shares of Royalty Pharma stock opened at $32.27 on Thursday. 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 plc has a 52-week low of $24.05 and a 52-week high of $34.20. The company’s 50 day moving average price is $32.49 and its 200-day moving average price is $29.08. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that Royalty Pharma plc will post 4.49 EPS for the current 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.