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

Royalty Pharma PLC (NASDAQ:RPRX) Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction on 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 $10,165,559. This 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

NASDAQ RPRX traded down $0.55 during midday trading on Friday, hitting $52.85. The company had a trading volume of 4,264,710 shares, compared to its average volume of 3,562,113. 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 stock has a market cap of $30.43 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 1.46 and a beta of 0.40. The firm has a fifty day simple moving average of $48.20 and a two-hundred day simple moving average of $43.28. Royalty Pharma PLC has a fifty-two week low of $32.15 and a fifty-two week high of $53.47.

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

Royalty Pharma Dividend Announcement

The firm also recently disclosed 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. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 63.95%.

Analyst Upgrades and Downgrades

RPRX has been the subject of a number of analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. UBS Group raised their price objective 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. Citigroup raised their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.71.

Hedge Funds Weigh In On Royalty Pharma

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in Royalty Pharma by 18.3% during the 3rd quarter. Nordea Investment Management AB now owns 775,999 shares of the biopharmaceutical company’s stock valued at $27,137,000 after purchasing an additional 120,004 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Royalty Pharma by 28.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 140,131 shares of the biopharmaceutical company’s stock valued at $4,944,000 after purchasing an additional 31,045 shares during the last quarter. Regal Partners Ltd lifted its holdings in Royalty Pharma by 6.7% during the 3rd quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock valued at $50,631,000 after purchasing an additional 89,930 shares during the last quarter. Alps Advisors Inc. acquired a new stake in Royalty Pharma in the 3rd quarter valued at about $19,514,000. Finally, Dorsey Asset Management LLC acquired a new stake in Royalty Pharma in the 3rd quarter valued at about $82,924,000. 54.35% of the stock is owned by institutional investors.

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.