Royalty Pharma (NASDAQ:RPRX) CFO Terrance Coyne Sells 69,582 Shares

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,582 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $39.35, for a total transaction of $2,738,051.70. Following the transaction, the chief financial officer directly owned 36,010 shares in the company, valued at approximately $1,416,993.50. This represents a 65.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $40.40 on Friday. The firm has a 50-day moving average price of $39.35 and a two-hundred day moving average price of $37.55. Royalty Pharma PLC has a 12-month low of $29.66 and a 12-month high of $41.70. The company has a market capitalization of $23.32 billion, a P/E ratio of 30.61, a P/E/G ratio of 1.53 and a beta of 0.43. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.89.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.11 by $0.06. The company had revenue of $609.29 million for the quarter, compared to analysts’ expectations of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. Analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, February 20th. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s dividend payout ratio is currently 66.67%.

Hedge Funds Weigh In On Royalty Pharma

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its position in Royalty Pharma by 1.5% in the third quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock valued at $656,000 after buying an additional 281 shares in the last quarter. Augustine Asset Management Inc. grew its position in Royalty Pharma by 4.4% during the 2nd quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company’s stock worth $242,000 after acquiring an additional 283 shares during the last quarter. GAMMA Investing LLC increased its holdings in Royalty Pharma by 9.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 289 shares in the last quarter. Hudson Bay Capital Management LP raised its position in Royalty Pharma by 1.0% in the third quarter. Hudson Bay Capital Management LP now owns 29,384 shares of the biopharmaceutical company’s stock valued at $1,037,000 after purchasing an additional 289 shares during the last quarter. Finally, Merit Financial Group LLC raised its position in Royalty Pharma by 3.5% in the third quarter. Merit Financial Group LLC now owns 9,149 shares of the biopharmaceutical company’s stock valued at $323,000 after purchasing an additional 306 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price target on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Leerink Partners set a $45.00 target price on shares of Royalty Pharma in a report on Thursday, December 11th. The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price for the company. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Royalty Pharma in a research report on Thursday. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.60.

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.