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

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $56.52, for a total transaction of $5,652,000.00. Following the completion of the sale, the executive vice president directly owned 459,399 shares of the company’s stock, valued at approximately $25,965,231.48. The trade was a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 30,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.46, for a total transaction 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 transaction of $8,160,000.00.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX traded up $1.99 during trading on Thursday, hitting $57.77. The company had a trading volume of 3,227,665 shares, compared to its average volume of 3,705,712. The firm has a market capitalization of $33.27 billion, a price-to-earnings ratio of 39.30, a price-to-earnings-growth ratio of 1.54 and a beta of 0.43. The stock has a fifty day simple moving average of $53.23 and a two-hundred day simple moving average of $47.02. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $57.80.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. The firm had revenue of $630.58 million during the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. On average, research analysts expect that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio is presently 63.95%.

Analysts Set New Price Targets

RPRX has been the topic of a number of research analyst reports. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Morgan Stanley lifted their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. JPMorgan Chase & Co. upped 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. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Finally, UBS Group boosted their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $53.71.

Institutional Trading of Royalty Pharma

Hedge funds and other institutional investors have recently modified their holdings of the business. LM Advisors LLC acquired a new stake in Royalty Pharma in the 4th quarter valued at about $26,000. Lloyd Advisory Services LLC. acquired a new position in shares of Royalty Pharma during the fourth quarter worth about $30,000. Private Trust Co. NA grew its position in shares of 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 in the last quarter. Blue Trust Inc. increased its stake in shares of 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 period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Royalty Pharma by 66.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 446 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

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.