Gregory Norden Sells 3,045 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the transaction, the director owned 191,803 shares in the company, valued at approximately $10,165,559. The trade was a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $52.85 on Friday. The firm’s 50-day moving average is $48.31 and its 200-day moving average is $43.35. Royalty Pharma PLC has a 52-week low of $32.15 and a 52-week high of $53.47. 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 has a market cap of $30.43 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.45 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The company had revenue of $631.00 million for the quarter, compared to the consensus estimate of $881.69 million. Equities research analysts anticipate that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.235 per share. The ex-dividend date is Friday, May 15th. This represents a $0.94 annualized dividend and a dividend yield of 1.8%. Royalty Pharma’s payout ratio is presently 63.95%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. upped their target price on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $53.71.

Institutional Trading of Royalty Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RPRX. LM Advisors LLC bought a new stake in Royalty Pharma in the fourth quarter valued at about $26,000. Lloyd Advisory Services LLC. bought a new stake in Royalty Pharma during the fourth quarter worth about $30,000. Smartleaf Asset Management LLC grew its stake in Royalty Pharma by 868.1% during the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 790 shares during the last quarter. Private Trust Co. NA grew its stake in Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 288 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 437 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

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.