42,817 Royalty Pharma PLC $RPRX Shares Purchased by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. lifted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 23.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 223,527 shares of the biopharmaceutical company’s stock after buying an additional 42,817 shares during the quarter. Royalty Pharma accounts for 1.7% of Triasima Portfolio Management inc.’s portfolio, making the stock its 16th biggest position. Triasima Portfolio Management inc.’s holdings in Royalty Pharma were worth $13,045,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Glenmede Trust Co. NA raised its holdings in shares of Royalty Pharma by 3.4% in the 1st quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock worth $375,000 after purchasing an additional 254 shares during the period. Bessemer Group Inc. lifted its stake in Royalty Pharma by 34.7% in the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 282 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Royalty Pharma by 89.2% in the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. grew its holdings in Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 437 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Royalty Pharma by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 27,228 shares of the biopharmaceutical company’s stock valued at $1,329,000 after purchasing an additional 454 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of recent research reports. Morgan Stanley raised their target price on Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. TD Cowen boosted their target price on Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Weiss Ratings upgraded Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 14th. JPMorgan Chase & Co. increased their price target on Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Bank of America reissued a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $61.57.

Insider Buying and Selling

In related news, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the transaction, the executive vice president directly owned 270,401 shares in the company, valued at approximately $15,826,570.53. The trade was a 27.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 208,252 shares of company stock valued at $12,324,407 over the last quarter. 18.84% of the stock is owned by company insiders.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $59.62 on Friday. The company’s 50 day moving average is $59.34 and its 200-day moving average is $55.68. Royalty Pharma PLC has a 12-month low of $35.87 and a 12-month high of $64.38. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The firm has a market cap of $34.28 billion, a P/E ratio of 41.12, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $674.14 million for the quarter, compared to analysts’ expectations of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. Sell-side analysts predict that Royalty Pharma PLC will post 5.29 earnings per share for the current year.

Royalty Pharma Profile

Royalty Pharma plc is a biopharmaceutical royalty acquisition company that provides funding to life sciences companies in exchange for rights to future payments associated with approved or development-stage medicines. Its business model gives biotechnology and pharmaceutical companies access to capital while allowing Royalty Pharma to participate in the commercial success of therapies without directly developing or marketing them.

The company invests in royalties and other economic interests tied to a broad range of biopharmaceutical products, including treatments for cancer, rare diseases, immune disorders, diabetes and other chronic conditions.