Royalty Pharma (NASDAQ:RPRX) EVP Sells $238,812.88 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $57.88, for a total value of $238,812.88. Following the completion of the transaction, the executive vice president directly owned 4,126 shares of the company’s stock, valued at $238,812.88. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Price Performance

NASDAQ:RPRX traded up $0.14 during mid-day trading on Wednesday, reaching $58.36. 3,652,814 shares of the company were exchanged, compared to its average volume of 3,444,227. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The stock has a market cap of $33.56 billion, a PE ratio of 40.25, a PEG ratio of 1.38 and a beta of 0.44. Royalty Pharma PLC has a 12 month low of $35.23 and a 12 month high of $64.38. The company has a fifty day moving average of $59.59 and a 200 day moving average of $54.71.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. On average, research analysts anticipate that Royalty Pharma PLC will post 5.32 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were paid a $0.2350 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is 64.83%.

Institutional Trading of Royalty Pharma

Large investors have recently made changes to their positions in the company. Capital International Investors raised its stake in Royalty Pharma by 14.3% during 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. Geode Capital Management LLC increased its holdings in shares of Royalty Pharma by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after acquiring an additional 102,430 shares in the last quarter. Bank of America Corp DE raised its position in shares of Royalty Pharma by 29.0% during the first quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock worth $167,696,000 after purchasing an additional 786,921 shares during the period. Amundi lifted its holdings in shares of Royalty Pharma by 15.3% during the 1st quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company’s stock valued at $148,168,000 after purchasing an additional 409,394 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $131,923,000. Institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RPRX shares. Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. TD Cowen increased their price objective on shares of Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. JPMorgan Chase & Co. raised their price objective on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Royalty Pharma in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, Royalty Pharma currently has a consensus rating of “Buy” and a consensus price target of $61.29.

About Royalty Pharma

Royalty Pharma plc is a biopharmaceutical royalty acquisition company that provides funding to life sciences companies in exchange for rights to future payments associated with approved or development-stage medicines. Its business model gives biotechnology and pharmaceutical companies access to capital while allowing Royalty Pharma to participate in the commercial success of therapies without directly developing or marketing them.

The company invests in royalties and other economic interests tied to a broad range of biopharmaceutical products, including treatments for cancer, rare diseases, immune disorders, diabetes and other chronic conditions.