5 Best Blue Chip Stocks to Buy According to Phill Gross and Robert Atchinson’s Adage Capital

04. Royalty Pharma plc (NASDAQ:RPRX)

Adage Capital Management’s Stake Value: $702.397 million

Percentage of Adage Capital Management’s Portfolio: 1.61%

Number of hedge fund holders: 19

Royalty Pharma plc (NASDAQ:RPRX) is a New York-based firm that operates in the pharma sector. Adage Capital Management, although reduced its stake in Royalty Pharma plc (NASDAQ:RPRX) by 33% during Q2, is still the largest shareholder of Royalty Pharma plc (NASDAQ:RPRX), holding 16.7 million shares worth roughly $702.397 million.

The stake comprises 1.61% of Adage Capital’s 13F portfolio.

Hedge fund sentiment around Royalty Pharma plc (NASDAQ:RPRX) has decreased in the second quarter of 2022, with 19 hedge funds long the stock, compared to 32 in Q1 2022. The company posted an EPS of $0.76 in Q2 2022, beating estimates of $0.6 by $0.16.