Royalty Pharma (NASDAQ:RPRX) Shares Gap Up – Here’s What Happened

Shares of Royalty Pharma plc (NASDAQ:RPRX) gapped up before the market opened on Friday . The stock had previously closed at $26.20, but opened at $27.55. Royalty Pharma shares last traded at $27.91, with a volume of 539,187 shares.

Wall Street Analyst Weigh In

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

Royalty Pharma Stock Up 7.7 %

The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $16.62 billion, a PE ratio of 14.62, a PEG ratio of 4.36 and a beta of 0.47. The business has a fifty day moving average of $25.90 and a 200 day moving average of $27.02.

Institutional Trading of Royalty Pharma

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after purchasing an additional 1,103,341 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after buying an additional 936,900 shares during the period. Point72 Asset Management L.P. acquired a new stake in Royalty Pharma in the third quarter valued at approximately $14,898,000. Geode Capital Management LLC lifted its stake in Royalty Pharma by 6.1% in the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after acquiring an additional 417,490 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its stake in Royalty Pharma by 2,974.4% in the second quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock worth $8,931,000 after acquiring an additional 327,659 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

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.