Royalty Pharma (NASDAQ:RPRX) Director Gregory Norden Sells 3,045 Shares of Stock

Royalty Pharma PLC (NASDAQ:RPRX) Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the sale, the director owned 191,803 shares in the company, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $52.85 on Friday. The company’s 50-day moving average price is $48.31 and its 200-day moving average price is $43.35. Royalty Pharma PLC has a twelve month low of $32.15 and a twelve month high of $53.47. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The company has a market cap of $30.43 billion, a PE ratio of 35.95, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $631.00 million for the quarter, compared to the consensus estimate of $881.69 million. On average, equities research analysts forecast that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $0.235 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.8%. Royalty Pharma’s payout ratio is 63.95%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RPRX shares. UBS Group boosted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Citigroup lifted their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $53.71.

Hedge Funds Weigh In On Royalty Pharma

A number of large investors have recently made changes to their positions in the company. Morgan Stanley boosted its stake in shares of Royalty Pharma by 25.2% during the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after purchasing an additional 11,110,115 shares during the period. Capital International Investors grew its stake in Royalty Pharma by 14.3% in the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock worth $1,201,870,000 after acquiring an additional 3,891,615 shares in the last quarter. State Street Corp grew its stake in Royalty Pharma by 3.7% in the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock worth $411,502,000 after acquiring an additional 376,888 shares in the last quarter. Geode Capital Management LLC grew its stake in Royalty Pharma by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after acquiring an additional 102,430 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Royalty Pharma by 9.7% in the 4th quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock worth $197,331,000 after acquiring an additional 449,498 shares in the last quarter. 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.