Aberdeen Group plc Grows Position in Royalty Pharma PLC $RPRX

Aberdeen Group plc lifted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 228,746 shares of the biopharmaceutical company’s stock after purchasing an additional 14,886 shares during the quarter. Aberdeen Group plc’s holdings in Royalty Pharma were worth $8,212,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. USA Financial Formulas purchased a new position in shares of Royalty Pharma during the 2nd quarter worth $32,000. Summit Securities Group LLC purchased a new position in shares of Royalty Pharma during the 1st quarter worth $36,000. WPG Advisers LLC purchased a new position in Royalty Pharma during the 1st quarter valued at about $39,000. Allworth Financial LP boosted its holdings in Royalty Pharma by 41.6% during the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 452 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Royalty Pharma by 42.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 402 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Shares of RPRX opened at $36.34 on Friday. The stock has a 50-day simple moving average of $36.06 and a 200-day simple moving average of $34.76. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $21.19 billion, a PE ratio of 21.01, a PEG ratio of 1.99 and a beta of 0.60. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $38.00.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $578.67 million during the quarter, compared to analysts’ expectations of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. On average, analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RPRX shares. Wall Street Zen cut Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Morgan Stanley lowered their target price on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Citigroup raised their target price on Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group started coverage on Royalty Pharma in a report on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price for the company. Finally, Weiss Ratings upgraded Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, Royalty Pharma presently has a consensus rating of “Buy” and an average price target of $46.00.

About Royalty Pharma

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.