Royalty Pharma (NASDAQ:RPRX) EVP Christopher Hite Sells 150,000 Shares of Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 150,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the transaction, the executive vice president owned 559,399 shares in the company, valued at approximately $30,431,305.60. The trade was a 21.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Trading Up 0.8%

NASDAQ RPRX opened at $54.69 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The company’s 50-day simple moving average is $52.66 and its two-hundred day simple moving average is $46.52. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $56.50. The company has a market capitalization of $31.49 billion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 1.49 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. The company had revenue of $630.58 million for the quarter, compared to analyst estimates 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 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

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

Hedge Funds Weigh In On Royalty Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Phillips Wealth Planners LLC increased its holdings in shares of Royalty Pharma by 1.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock valued at $521,000 after purchasing an additional 242 shares during the period. Strs Ohio lifted its holdings in shares of Royalty Pharma by 2.8% during the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 252 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Royalty Pharma by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock worth $375,000 after purchasing an additional 254 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Royalty Pharma by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after buying an additional 255 shares during the last quarter. Finally, Cary Street Partners Financial LLC increased its holdings in 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 worth $943,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. boosted their target price 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. Citigroup increased their price target 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. Morgan Stanley raised their price target on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Finally, TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target 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.