Insider Selling: Royalty Pharma (NASDAQ:RPRX) CFO Sells $1,731,895.98 in Stock

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

Royalty Pharma Stock Down 1.2%

Shares of NASDAQ:RPRX opened at $49.47 on Friday. 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. The stock has a market capitalization of $28.54 billion, a P/E ratio of 36.64, a PEG ratio of 3.16 and a beta of 0.40. The stock has a 50-day simple moving average of $47.31 and a 200-day simple moving average of $42.41.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%.The business had revenue of $621.99 million during the quarter, compared to analysts’ expectations of $839.97 million. Equities analysts forecast that Royalty Pharma PLC will post 5.08 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company 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 dividend of $0.235 per share. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.9%. Royalty Pharma’s payout ratio is presently 69.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RPRX shares. TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Weiss Ratings raised Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. UBS Group raised their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Citigroup raised their price objective on Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $50.33.

Hedge Funds Weigh In On Royalty Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. 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 valued at $2,135,790,000 after buying an additional 11,110,115 shares during the last quarter. Capital International Investors boosted its stake in shares of Royalty Pharma by 14.3% during the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after buying an additional 3,891,615 shares during the last quarter. State Street Corp boosted its stake in shares of Royalty Pharma by 3.7% during the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock valued at $411,502,000 after buying an additional 376,888 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Royalty Pharma by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock valued at $297,465,000 after buying an additional 102,430 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Royalty Pharma by 9.7% during the 4th quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock valued at $197,331,000 after buying an additional 449,498 shares during the last quarter. 54.35% of the stock is currently 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.