Royalty Pharma (NASDAQ:RPRX) Sets New 1-Year High – Here’s What Happened

Royalty Pharma PLC (NASDAQ:RPRX)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $60.52 and last traded at $60.7740, with a volume of 100071 shares. The stock had previously closed at $59.69.

Analyst Ratings Changes

A number of research firms recently issued reports on RPRX. UBS Group boosted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. TD Cowen lifted their price objective on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 13th. The Goldman Sachs Group restated a “buy” rating and issued a $66.00 target price on shares of Royalty Pharma in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Royalty Pharma in a report on Wednesday, August 12th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $60.86.

Royalty Pharma Stock Performance

The firm’s 50 day moving average is $56.99 and its 200-day moving average is $51.46. The stock has a market capitalization of $34.84 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 1.37 and a beta of 0.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. The company had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. Analysts forecast that Royalty Pharma PLC will post 5.3 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s payout ratio is presently 64.83%.

Insider Buying and Selling

In other news, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total transaction of $5,652,000.00. Following the completion of the sale, the executive vice president owned 459,399 shares of the company’s stock, valued at $25,965,231.48. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total transaction of $508,452.12. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 362,596 shares of company stock worth $19,992,538. 18.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royalty Pharma

A number of institutional investors have recently bought and sold shares of RPRX. Phillips Wealth Planners LLC increased its holdings in shares of Royalty Pharma by 1.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock valued at $521,000 after purchasing an additional 242 shares during the period. Strs Ohio raised its stake in shares of Royalty Pharma by 2.8% during the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 252 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Royalty Pharma by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock worth $375,000 after purchasing an additional 254 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after buying an additional 255 shares during the last quarter. Finally, Cary Street Partners Financial LLC increased its stake in Royalty Pharma by 1.1% in the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock valued at $943,000 after buying an additional 260 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

About Royalty Pharma

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.