Royalty Pharma (NASDAQ:RPRX) CFO Sells $4,562,481.92 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 108,424 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $42.08, for a total transaction of $4,562,481.92. Following the completion of the transaction, the chief financial officer owned 30,167 shares in the company, valued at approximately $1,269,427.36. The trade was a 78.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Royalty Pharma Price Performance

Shares of RPRX opened at $44.65 on Friday. Royalty Pharma PLC has a twelve month low of $29.66 and a twelve month high of $44.93. The company has a market capitalization of $25.77 billion, a P/E ratio of 33.83, a price-to-earnings-growth ratio of 1.69 and a beta of 0.42. The firm has a 50 day moving average of $39.91 and a 200 day moving average of $37.99. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.89.

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

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders 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 dividend yield of 2.1%. The ex-dividend date of this dividend 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%.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB increased its position in shares of Royalty Pharma by 603.9% during the second quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock worth $23,701,000 after purchasing an additional 562,799 shares in the last quarter. Watchtower Advisors LP purchased a new position in Royalty Pharma during the 2nd quarter worth $3,603,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Royalty Pharma during the 3rd quarter valued at about $933,000. World Investment Advisors acquired a new position in Royalty Pharma during the 3rd quarter valued at about $1,702,000. Finally, Generali Asset Management SPA SGR boosted its holdings in Royalty Pharma by 7,752.8% in the third quarter. Generali Asset Management SPA SGR now owns 34,081 shares of the biopharmaceutical company’s stock worth $1,202,000 after acquiring an additional 33,647 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of recent research reports. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Friday, January 30th. Leerink Partners set a $45.00 price objective on shares of Royalty Pharma in a research note on Thursday, December 11th. Citigroup boosted their target price on shares of Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Royalty Pharma in a research report on Thursday, January 22nd. Finally, Morgan Stanley dropped 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

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.