Ridgewood Investments LLC Increases Stake in Royalty Pharma plc (NASDAQ:RPRX)

Ridgewood Investments LLC boosted its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 40.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,735 shares of the biopharmaceutical company’s stock after acquiring an additional 8,913 shares during the quarter. Ridgewood Investments LLC’s holdings in Royalty Pharma were worth $784,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. raised its position in Royalty Pharma by 5.0% during the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock valued at $40,705,000 after acquiring an additional 70,130 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Royalty Pharma by 171.1% in the third quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock valued at $2,777,000 after buying an additional 64,057 shares in the last quarter. Summit Global Investments purchased a new stake in shares of Royalty Pharma in the third quarter valued at approximately $735,000. Two Sigma Advisers LP increased its position in shares of Royalty Pharma by 44.7% in the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock valued at $85,809,000 after buying an additional 936,900 shares in the last quarter. Finally, New South Capital Management Inc. increased its position in shares of Royalty Pharma by 5.0% in the third quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company’s stock valued at $69,774,000 after buying an additional 117,394 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup cut their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. Finally, StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $41.67.

Royalty Pharma Trading Up 10.3 %

NASDAQ RPRX traded up $2.69 on Friday, reaching $28.89. 1,863,065 shares of the company were exchanged, compared to its average volume of 2,073,156. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $31.66. The business’s fifty day moving average price is $25.90 and its 200 day moving average price is $27.02. The stock has a market capitalization of $17.02 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 4.36 and a beta of 0.47. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64.

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.