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

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 34,791 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $48.33, for a total transaction of $1,681,449.03. Following the transaction, the chief financial officer owned 32,916 shares of the company’s stock, valued at approximately $1,590,830.28. The trade was a 51.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $48.57 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40. The company has a market cap of $28.02 billion, a PE ratio of 35.98 and a beta of 0.39. The firm has a fifty day moving average price of $45.07 and a two-hundred day moving average price of $40.54. Royalty Pharma PLC has a fifty-two week low of $29.66 and a fifty-two week high of $49.06.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS 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 business had revenue of $621.99 million during the quarter, compared to analyst estimates of $839.97 million. Analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were given a $0.235 dividend. The ex-dividend date was Friday, February 20th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s dividend payout ratio is 69.63%.

Hedge Funds Weigh In On Royalty Pharma

Several hedge funds and other institutional investors have recently modified their holdings of RPRX. Rockefeller Capital Management L.P. grew its position in Royalty Pharma by 1,347.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 87,814 shares of the biopharmaceutical company’s stock valued at $3,393,000 after acquiring an additional 81,747 shares during the period. World Investment Advisors lifted its holdings in shares of Royalty Pharma by 21.1% during the fourth quarter. World Investment Advisors now owns 58,434 shares of the biopharmaceutical company’s stock valued at $2,258,000 after acquiring an additional 10,178 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Royalty Pharma by 29.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,681 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 838 shares in the last quarter. Compound Planning Inc. boosted its stake in shares of Royalty Pharma by 21.7% in the 4th quarter. Compound Planning Inc. now owns 10,618 shares of the biopharmaceutical company’s stock valued at $410,000 after purchasing an additional 1,896 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Royalty Pharma by 26.8% in the 4th quarter. Corient Private Wealth LLC now owns 154,922 shares of the biopharmaceutical company’s stock worth $5,986,000 after purchasing an additional 32,766 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RPRX shares. Leerink Partners set a $45.00 price objective on Royalty Pharma in a research report on Thursday, December 11th. Citigroup raised their target price on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. UBS Group upgraded shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Friday, January 30th. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 12th. Finally, TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.67.

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.