JPMorgan Chase & Co. Sells 6,449,863 Shares of Royalty Pharma plc (NASDAQ:RPRX)

JPMorgan Chase & Co. reduced its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 83.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,289,418 shares of the biopharmaceutical company’s stock after selling 6,449,863 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.22% of Royalty Pharma worth $36,478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Aurora Investment Counsel increased its position in shares of Royalty Pharma by 1.0% during the 3rd quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company’s stock valued at $1,427,000 after purchasing an additional 512 shares during the last quarter. Xponance Inc. increased its holdings in Royalty Pharma by 1.9% during the second quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock worth $836,000 after buying an additional 606 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 655 shares during the period. Values First Advisors Inc. boosted its stake in Royalty Pharma by 7.6% in the third quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company’s stock valued at $295,000 after acquiring an additional 738 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of Royalty Pharma by 4.3% during the 3rd quarter. M&T Bank Corp now owns 18,749 shares of the biopharmaceutical company’s stock valued at $531,000 after acquiring an additional 779 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Royalty Pharma Trading Down 0.3 %

NASDAQ:RPRX opened at $25.75 on Tuesday. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $31.66. The stock’s fifty day moving average price is $25.95 and its two-hundred day moving average price is $27.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market cap of $15.17 billion, a P/E ratio of 13.34, a P/E/G ratio of 4.36 and a beta of 0.47.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Friday, November 15th. Royalty Pharma’s payout ratio is presently 43.52%.

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.