Insider Selling: Royalty Pharma (NASDAQ:RPRX) CFO Sells $3,476,258.02 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 64,399 shares of the firm’s stock in a transaction that occurred 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 document filed 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

Shares of Royalty Pharma stock opened at $55.76 on Friday. Royalty Pharma PLC has a fifty-two week low of $32.29 and a fifty-two week high of $56.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market capitalization of $32.11 billion, a P/E ratio of 37.93, a P/E/G ratio of 1.53 and a beta of 0.40. The company’s 50 day moving average price is $49.89 and its two-hundred day moving average price is $44.46.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating 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 $630.58 million for the quarter, compared to analyst estimates of $881.69 million. On average, equities analysts forecast that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be given a $0.235 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a yield of 1.7%. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds have recently modified their holdings of RPRX. Morgan Stanley lifted its holdings in shares of Royalty Pharma by 25.2% during the fourth 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 raised its stake in Royalty Pharma by 24.4% during the third quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after buying an additional 5,332,074 shares during the last quarter. Norges Bank bought a new position in Royalty Pharma during the fourth quarter worth $131,923,000. Dorsey Asset Management LLC bought a new position in Royalty Pharma during the third quarter worth $82,924,000. Finally, Qube Research & Technologies Ltd raised its stake in Royalty Pharma by 737.3% during the third quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock worth $87,557,000 after buying an additional 2,185,366 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RPRX shares. Citigroup raised their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Morgan Stanley raised their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $53.71.

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.