JPMorgan Chase & Co. Trims Stake in Royalty Pharma plc (NASDAQ:RPRX)

JPMorgan Chase & Co. lessened its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 83.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,289,418 shares of the biopharmaceutical company’s stock after selling 6,449,863 shares during the quarter. JPMorgan Chase & Co.’s holdings in Royalty Pharma were worth $36,478,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RPRX. Aurora Investment Counsel increased its stake in Royalty Pharma by 1.0% in the 3rd quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company’s stock worth $1,427,000 after acquiring an additional 512 shares during the last quarter. Xponance Inc. grew its holdings in shares of 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 purchasing an additional 606 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 655 shares during the last quarter. Values First Advisors Inc. raised 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 purchasing an additional 738 shares in the last quarter. Finally, M&T Bank Corp lifted its position in Royalty Pharma by 4.3% during the third quarter. M&T Bank Corp now owns 18,749 shares of the biopharmaceutical company’s stock valued at $531,000 after purchasing an additional 779 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $25.75 on Tuesday. The company has a 50-day simple moving average of $25.95 and a two-hundred day simple moving average of $27.04. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $31.66. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 4.36 and a beta of 0.47. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.