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 firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $45.53, for a total transaction of $1,584,034.23. Following the sale, the chief financial officer owned 43,886 shares in the company, valued at approximately $1,998,129.58. This trade represents a 44.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Royalty Pharma Stock Up 3.2%

Shares of NASDAQ:RPRX opened at $47.03 on Thursday. The firm has a market capitalization of $27.13 billion, a PE ratio of 34.84 and a beta of 0.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. Royalty Pharma PLC has a 52-week low of $29.66 and a 52-week high of $47.86. The firm has a fifty day moving average of $44.14 and a 200 day moving average of $40.11.

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

Royalty Pharma Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s payout ratio is 69.63%.

Hedge Funds Weigh In On Royalty Pharma

Hedge funds have recently made changes to their positions in the business. Phillips Wealth Planners LLC boosted its stake in shares of Royalty Pharma by 1.9% during the 4th 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 in the last quarter. Strs Ohio boosted its position in Royalty Pharma by 2.8% during the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 252 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Royalty Pharma by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after acquiring an additional 255 shares during the period. Cary Street Partners Financial LLC raised its position in shares of 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 acquiring an additional 260 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Royalty Pharma by 1.5% in the 3rd quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock valued at $656,000 after purchasing an additional 281 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RPRX has been the topic of several research reports. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Morgan Stanley reissued an “overweight” rating and issued a $61.00 target price on shares of Royalty Pharma in a research note on Thursday, February 12th. Finally, Citigroup raised their price target on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $48.67.

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.