PNC Financial Services Group Inc. Has $394,000 Position in Royalty Pharma PLC (NASDAQ:RPRX)

PNC Financial Services Group Inc. grew its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,665 shares of the biopharmaceutical company’s stock after purchasing an additional 859 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Royalty Pharma were worth $394,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Jupiter Asset Management Ltd. grew its position in shares of Royalty Pharma by 462.1% in the first quarter. Jupiter Asset Management Ltd. now owns 1,090,591 shares of the biopharmaceutical company’s stock valued at $33,950,000 after purchasing an additional 896,555 shares during the last quarter. US Bancorp DE grew its position in shares of Royalty Pharma by 41.0% in the first quarter. US Bancorp DE now owns 13,483 shares of the biopharmaceutical company’s stock valued at $420,000 after purchasing an additional 3,918 shares during the last quarter. Torray Investment Partners LLC grew its position in shares of Royalty Pharma by 26.0% in the first quarter. Torray Investment Partners LLC now owns 862,018 shares of the biopharmaceutical company’s stock valued at $26,835,000 after purchasing an additional 178,011 shares during the last quarter. Pacific Capital Partners Ltd acquired a new stake in shares of Royalty Pharma in the first quarter valued at about $5,448,000. Finally, XTX Topco Ltd acquired a new stake in shares of Royalty Pharma in the first quarter valued at about $1,654,000. 54.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RPRX shares. Morgan Stanley increased their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Citigroup increased their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd.

Royalty Pharma Stock Up 0.1%

NASDAQ RPRX opened at $36.50 on Friday. 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 firm has a 50-day simple moving average of $35.92 and a 200 day simple moving average of $33.71. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00. The stock has a market cap of $20.52 billion, a PE ratio of 21.10, a PEG ratio of 2.38 and a beta of 0.55.

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

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. Royalty Pharma’s dividend payout ratio (DPR) is currently 50.87%.

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.