Royalty Pharma (NASDAQ:RPRX) EVP Christopher Hite Sells 100,000 Shares of Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 100,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total value of $5,997,000.00. Following the sale, the executive vice president directly owned 370,401 shares in the company, valued at approximately $22,212,947.97. This trade represents a 21.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Hite also recently made the following trade(s):

• On Tuesday, June 30th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.52, for a total value of $5,652,000.00.
• On Tuesday, June 30th, Christopher Hite sold 30,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.46, for a total value of $1,693,800.00.
• On Tuesday, June 23rd, Christopher Hite sold 150,000 shares of Royalty Pharma stock. The shares were sold at an average price of $54.40, for a total value of $8,160,000.00.

Royalty Pharma Stock Up 3.4%

NASDAQ:RPRX traded up $2.00 during mid-day trading on Wednesday, hitting $61.69. 3,243,989 shares of the company’s stock traded hands, compared to its average volume of 3,521,928. Royalty Pharma PLC has a twelve month low of $34.08 and a twelve month high of $61.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. The company has a fifty day moving average of $56.99 and a 200 day moving average of $51.46. The company has a market capitalization of $35.47 billion, a P/E ratio of 42.55, a P/E/G ratio of 1.37 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The business had revenue of $674.14 million during the quarter, compared to analysts’ expectations of $758.93 million. On average, analysts forecast that Royalty Pharma PLC will post 5.3 EPS for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s dividend payout ratio is presently 64.83%.

Wall Street Analyst Weigh In

RPRX has been the topic of several research reports. The Goldman Sachs Group restated a “buy” rating and set a $66.00 price objective on shares of Royalty Pharma in a report on Thursday, August 6th. Citigroup upped 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. TD Cowen lifted their price target on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Royalty Pharma in a research note on Wednesday, August 12th. Finally, Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and an average price target of $60.86.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. LM Advisors LLC bought a new position in shares of Royalty Pharma in the fourth quarter valued at approximately $26,000. Lloyd Advisory Services LLC. bought a new stake in Royalty Pharma in the 4th quarter valued at $30,000. Private Trust Co. NA grew its stake in Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 288 shares in the last quarter. Blue Trust Inc. boosted its holdings in Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 437 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Royalty Pharma by 66.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 446 shares during the period. 54.35% of the stock is owned by institutional investors.

About Royalty Pharma

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.