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

Shares of Royalty Pharma PLC (NASDAQ:RPRX) hit a new 52-week high during trading on Wednesday . The stock 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.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of recent research reports. Morgan Stanley restated an “overweight” rating and set a $65.00 price objective on shares of Royalty Pharma in a research note on Thursday, August 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Royalty Pharma in a research report on Wednesday, August 12th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. upped their target price on Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $60.86.

Royalty Pharma Stock Down 1.9%

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. The firm has a market capitalization of $34.83 billion, a PE ratio of 41.78, a P/E/G ratio of 1.44 and a beta of 0.43. The company has a 50-day moving average price of $57.24 and a 200 day moving average price of $51.74.

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

Royalty Pharma Announces Dividend

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

Insider Activity

In other Royalty Pharma news, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total transaction of $3,476,258.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the business’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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 462,596 shares of company stock valued at $25,989,538 in the last quarter. 18.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Royalty Pharma

Several large investors have recently bought and sold shares of the business. LM Advisors LLC acquired a new position in shares of Royalty Pharma in the fourth quarter valued at approximately $26,000. Blue Trust Inc. boosted its stake in shares of Royalty Pharma by 173.4% during the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 437 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in Royalty Pharma in the 4th quarter valued at $30,000. Private Trust Co. NA boosted its stake in Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 288 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Royalty Pharma by 89.2% in the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 413 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.