Royalty Pharma (NASDAQ:RPRX) CFO Terrance Coyne Sells 34,791 Shares

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 34,791 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $48.33, for a total transaction of $1,681,449.03. Following the sale, the chief financial officer owned 32,916 shares in the company, valued at $1,590,830.28. This represents a 51.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Trading Up 0.2%

RPRX traded up $0.08 on Thursday, hitting $48.57. The company had a trading volume of 2,730,420 shares, compared to its average volume of 3,691,239. The company has a market cap of $28.02 billion, a PE ratio of 35.98 and a beta of 0.40. Royalty Pharma PLC has a 12-month low of $29.66 and a 12-month high of $49.06. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The business’s fifty day simple moving average is $44.91 and its 200 day simple moving average is $40.49.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. Equities research analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 20th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, February 20th. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s payout ratio is currently 69.63%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RPRX. Leerink Partners set a $45.00 price objective on shares of Royalty Pharma in a research report on Thursday, December 11th. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $61.00 price objective on shares of Royalty Pharma in a research note on Thursday, February 12th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, Royalty Pharma currently has a consensus rating of “Buy” and an average target price of $48.67.

Institutional Trading of Royalty Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of RPRX. Morgan Stanley boosted its stake 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 valued at $2,135,790,000 after purchasing an additional 11,110,115 shares during the period. Capital International Investors increased its stake in Royalty Pharma by 14.3% in the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock worth $1,201,870,000 after buying an additional 3,891,615 shares during the period. Swedbank AB lifted its holdings in Royalty Pharma by 0.4% during the 3rd quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock valued at $430,426,000 after buying an additional 42,800 shares in the last quarter. State Street Corp lifted its holdings in Royalty Pharma by 3.7% during the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock valued at $411,502,000 after buying an additional 376,888 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Royalty Pharma by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock valued at $297,465,000 after buying an additional 102,430 shares during the period. 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.