Terrance Coyne Sells 69,582 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,582 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $38.36, for a total value of $2,669,165.52. Following the transaction, the chief financial officer directly owned 43,510 shares of the company’s stock, valued at $1,669,043.60. This represents a 61.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Royalty Pharma Stock Up 0.3%

Shares of Royalty Pharma stock opened at $38.43 on Friday. The business’s 50 day simple moving average is $38.30 and its 200 day simple moving average is $36.70. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $41.24. The firm has a market cap of $22.18 billion, a PE ratio of 29.11, a P/E/G ratio of 2.02 and a beta of 0.47. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%.The firm had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million. On average, analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. Royalty Pharma’s dividend payout ratio (DPR) is 66.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RPRX shares. TD Cowen boosted their price target on shares of Royalty Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Cowen reissued a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. Leerink Partners set a $45.00 price target on Royalty Pharma in a research report on Thursday, December 11th. Finally, The Goldman Sachs Group began coverage on Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.60.

Institutional Trading of Royalty Pharma

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in Royalty Pharma by 868.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 790 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Royalty Pharma during the second quarter worth approximately $32,000. Financial Consulate Inc. acquired a new position in shares of Royalty Pharma in the third quarter valued at approximately $35,000. Summit Securities Group LLC bought a new position in shares of Royalty Pharma during the first quarter worth approximately $36,000. Finally, Larson Financial Group LLC increased its stake in shares of Royalty Pharma by 31.9% during the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 306 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.