Raymond James Financial Inc. Invests $19.99 Million in Royalty Pharma plc (NASDAQ:RPRX)

Raymond James Financial Inc. bought a new position in shares of Royalty Pharma plc (NASDAQ:RPRX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 783,633 shares of the biopharmaceutical company’s stock, valued at approximately $19,990,000. Raymond James Financial Inc. owned approximately 0.13% of Royalty Pharma as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in RPRX. Franklin Resources Inc. boosted its stake in shares of Royalty Pharma by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock worth $40,705,000 after acquiring an additional 70,130 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Royalty Pharma by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company’s stock worth $79,888,000 after purchasing an additional 130,025 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Royalty Pharma during the 4th quarter worth about $2,355,000. Jupiter Asset Management Ltd. purchased a new stake in Royalty Pharma during the fourth quarter valued at about $4,950,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Royalty Pharma by 303.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company’s stock worth $13,926,000 after buying an additional 406,123 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Trading Up 1.0 %

Royalty Pharma stock opened at $32.51 on Friday. The company has a quick ratio of 1.44, a current 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 company’s fifty day simple moving average is $32.57 and its 200-day simple moving average is $29.28. The stock has a market cap of $18.74 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX) last issued its 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 return on equity of 24.40% and a net margin of 37.94%. As a group, sell-side analysts forecast that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. One investment 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target 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.