Insider Selling: Royalty Pharma (NASDAQ:RPRX) EVP Sells $8,160,000.00 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 150,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the sale, the executive vice president directly owned 559,399 shares of the company’s stock, valued at $30,431,305.60. This represents a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $56.23 on Friday. 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 company has a market capitalization of $32.38 billion, a PE ratio of 38.25, a price-to-earnings-growth ratio of 1.55 and a beta of 0.43. The firm’s 50-day moving average is $52.81 and its two-hundred day moving average is $46.59. Royalty Pharma PLC has a 12 month low of $34.08 and a 12 month high of $56.50.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. Analysts predict that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Announces Dividend

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

Hedge Funds Weigh In On Royalty Pharma

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RPRX shares. UBS Group raised their price objective on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Citigroup boosted their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $53.71.

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.