Terrance Coyne Sells 34,791 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 34,791 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $45.53, for a total transaction of $1,584,034.23. Following the completion of the transaction, the chief financial officer owned 43,886 shares of the company’s stock, valued at approximately $1,998,129.58. The trade was a 44.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Royalty Pharma Stock Down 0.2%

Shares of RPRX stock opened at $46.94 on Friday. The company has a market capitalization of $27.08 billion, a price-to-earnings ratio of 34.77 and a beta of 0.40. Royalty Pharma PLC has a one year low of $29.66 and a one year high of $47.86. The company’s fifty day moving average price is $44.28 and its 200-day moving average price is $40.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40.

Royalty Pharma (NASDAQ:RPRX) last released its 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 net margin of 32.38% and a return on equity of 28.21%. The company had revenue of $621.99 million for the quarter, compared to analysts’ expectations of $839.97 million. Sell-side analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th were paid a $0.235 dividend. 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. The ex-dividend date of this dividend was Friday, February 20th. Royalty Pharma’s dividend payout ratio is currently 69.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RPRX. The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Weiss Ratings upgraded shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Finally, Citigroup upped their target price on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $48.67.

Hedge Funds Weigh In On Royalty Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Royalty Pharma by 367.7% in the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock worth $6,342,000 after acquiring an additional 160,191 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Royalty Pharma by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock valued at $2,490,000 after purchasing an additional 13,489 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Royalty Pharma in the 1st quarter worth $264,000. Intech Investment Management LLC increased its holdings in shares of Royalty Pharma by 41.0% in the 1st quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock worth $1,494,000 after buying an additional 13,951 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Royalty Pharma by 3.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 13,128 shares of the biopharmaceutical company’s stock worth $473,000 after buying an additional 463 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

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.