Royalty Pharma (NASDAQ:RPRX) EVP Sells $766,400.00 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Marshall Urist sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $38.32, for a total transaction of $766,400.00. Following the completion of the sale, the executive vice president directly owned 140,000 shares of the company’s stock, valued at $5,364,800. The trade was a 12.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Marshall Urist also recently made the following trade(s):

• On Friday, December 5th, Marshall Urist sold 23,334 shares of Royalty Pharma stock. The shares were sold at an average price of $39.15, for a total transaction of $913,526.10.
• On Friday, December 5th, Marshall Urist sold 18,242 shares of Royalty Pharma stock. The shares were sold at an average price of $39.15, for a total value of $714,174.30.
• On Monday, December 1st, Marshall Urist sold 23,333 shares of Royalty Pharma stock. The stock was sold at an average price of $39.93, for a total value of $931,686.69.
• On Monday, December 1st, Marshall Urist sold 18,242 shares of Royalty Pharma stock. The stock was sold at an average price of $39.90, for a total transaction of $727,855.80.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $38.60 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a market cap of $22.28 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.02 and a beta of 0.47. Royalty Pharma PLC has a 52 week low of $24.32 and a 52 week high of $41.24. The firm’s 50-day simple moving average is $38.36 and its two-hundred day simple moving average is $36.74.

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

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were paid a $0.22 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. Royalty Pharma’s payout ratio is presently 66.67%.

Hedge Funds Weigh In On Royalty Pharma

Several hedge funds have recently bought and sold shares of RPRX. Capital International Investors lifted its stake in Royalty Pharma by 24.4% in the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after purchasing an additional 5,332,074 shares in the last quarter. Norges Bank bought a new position in shares of Royalty Pharma in the second quarter worth $181,388,000. Dorsey Asset Management LLC purchased a new stake in shares of Royalty Pharma in the third quarter worth $82,924,000. Qube Research & Technologies Ltd boosted its stake in Royalty Pharma by 737.3% during the third quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock valued at $87,557,000 after buying an additional 2,185,366 shares during the period. Finally, Millennium Management LLC boosted its stake in Royalty Pharma by 379.2% during the third quarter. Millennium Management LLC now owns 2,235,133 shares of the biopharmaceutical company’s stock valued at $78,855,000 after buying an additional 1,768,702 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RPRX shares. Weiss Ratings lowered Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. TD Cowen upped their price target on shares of Royalty Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Thursday, December 11th. Finally, Leerink Partners set a $45.00 target price on shares of Royalty Pharma in a report on Thursday, December 11th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Royalty Pharma has an average rating of “Moderate Buy” and an average target price of $45.60.

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.