Insider Selling: Royalty Pharma (NASDAQ:RPRX) CFO Sells 34,791 Shares of Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 34,791 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $49.78, for a total value of $1,731,895.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Price Performance

Royalty Pharma stock traded up $0.60 during trading on Thursday, reaching $50.09. The company had a trading volume of 4,140,067 shares, compared to its average volume of 3,520,156. The firm has a market capitalization of $28.89 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 3.17 and a beta of 0.39. The firm’s 50-day simple moving average is $47.21 and its 200 day simple moving average is $42.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. Royalty Pharma PLC has a 1-year low of $31.97 and a 1-year high of $50.47.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.13. The business had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. As a group, equities research analysts anticipate that Royalty Pharma PLC will post 5.08 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a yield of 1.9%. Royalty Pharma’s dividend payout ratio (DPR) is currently 69.63%.

Analysts Set New Price Targets

RPRX has been the topic of a number of research reports. UBS Group raised their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Weiss Ratings upgraded Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Morgan Stanley boosted their price target on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $50.33.

Hedge Funds Weigh In On Royalty Pharma

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in shares of Royalty Pharma by 367.7% in the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock worth $6,342,000 after acquiring an additional 160,191 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Royalty Pharma by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock worth $2,490,000 after purchasing an additional 13,489 shares during the last quarter. Focus Partners Wealth acquired a new stake in Royalty Pharma during the first quarter worth about $264,000. Intech Investment Management LLC raised its stake in Royalty Pharma by 41.0% during the first quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock worth $1,494,000 after purchasing an additional 13,951 shares during the period. Finally, Invesco Ltd. boosted its holdings in Royalty Pharma by 21.4% in the 2nd quarter. Invesco Ltd. now owns 1,559,378 shares of the biopharmaceutical company’s stock valued at $56,184,000 after purchasing an additional 274,960 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Company Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.