Royalty Pharma (NASDAQ:RPRX) CFO Sells $2,673,340.44 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,582 shares of Royalty Pharma stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $38.42, for a total value of $2,673,340.44. Following the completion of the transaction, the chief financial officer owned 39,760 shares of the company’s stock, valued at approximately $1,527,579.20. This trade represents a 63.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $40.26 on Tuesday. The firm has a market capitalization of $23.24 billion, a PE ratio of 30.50, a PEG ratio of 1.93 and a beta of 0.43. The stock’s fifty day moving average is $39.24 and its 200 day moving average is $37.33. Royalty Pharma PLC has a fifty-two week low of $29.66 and a fifty-two week high of $41.70. 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 posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The business had revenue of $609.29 million for the quarter, compared to analysts’ expectations of $765.01 million. On average, sell-side analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 20th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, February 20th. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RPRX shares. Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. TD Cowen upped their price objective on Royalty Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Weiss Ratings downgraded Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. The Goldman Sachs Group assumed coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price for the company. Finally, Morgan Stanley reduced their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.60.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in RPRX. CWM LLC grew its holdings in shares of Royalty Pharma by 1.5% during the 3rd quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock worth $656,000 after purchasing an additional 281 shares during the period. Augustine Asset Management Inc. boosted its stake in Royalty Pharma by 4.4% during the second quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company’s stock worth $242,000 after buying an additional 283 shares during the period. GAMMA Investing LLC increased its position in shares of Royalty Pharma by 9.6% during the third quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 289 shares during the last quarter. Hudson Bay Capital Management LP raised its stake in shares of Royalty Pharma by 1.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 29,384 shares of the biopharmaceutical company’s stock valued at $1,037,000 after acquiring an additional 289 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in shares of Royalty Pharma by 3.5% in the 3rd quarter. Merit Financial Group LLC now owns 9,149 shares of the biopharmaceutical company’s stock worth $323,000 after acquiring an additional 306 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Company Profile

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.