Royalty Pharma PLC (NASDAQ:RPRX) Short Interest Down 49.2% in February

Royalty Pharma PLC (NASDAQ:RPRX) was the recipient of a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 13,443,797 shares, a decline of 49.2% from the January 29th total of 26,462,455 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily volume of 4,434,841 shares, the days-to-cover ratio is currently 3.0 days. Based on an average daily volume of 4,434,841 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.9% of the company’s shares are sold short.

Royalty Pharma Trading Up 0.5%

RPRX opened at $45.36 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average is $41.63 and its two-hundred day moving average is $38.77. The company has a market capitalization of $26.17 billion, a P/E ratio of 33.60 and a beta of 0.42. Royalty Pharma has a 52 week low of $29.66 and a 52 week high of $46.14.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. Analysts forecast that Royalty Pharma will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders 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 2.1%. 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 dividend payout ratio (DPR) is currently 69.63%.

Insider Activity

In related news, EVP George W. Lloyd sold 110,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $39.77, for a total transaction of $4,374,700.00. Following the sale, the executive vice president owned 110,000 shares in the company, valued at approximately $4,374,700. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Marshall Urist sold 23,334 shares of Royalty Pharma stock in a transaction on Friday, December 5th. The stock was sold at an average price of $39.15, for a total transaction of $913,526.10. Following the transaction, the executive vice president directly owned 160,000 shares of the company’s stock, valued at $6,264,000. The trade was a 12.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 965,020 shares of company stock valued at $38,670,657. 18.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Royalty Pharma

Several large investors have recently modified their holdings of the business. Phillips Wealth Planners LLC boosted its stake in shares of Royalty Pharma by 1.9% during the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock valued at $521,000 after purchasing an additional 242 shares in the last quarter. Strs Ohio boosted its position in Royalty Pharma by 2.8% during the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 252 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after acquiring an additional 255 shares during the period. Cary Street Partners Financial LLC increased its holdings in shares of Royalty Pharma by 1.1% in the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock valued at $943,000 after acquiring an additional 260 shares during the period. Finally, CWM LLC raised its position in shares of Royalty Pharma by 1.5% in the 3rd quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock worth $656,000 after acquiring an additional 281 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Leerink Partners set a $45.00 price objective on shares of Royalty Pharma in a research report on Thursday, December 11th. Morgan Stanley reiterated an “overweight” rating and issued a $61.00 price target on shares of Royalty Pharma in a report on Thursday, February 12th. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. Finally, Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company 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.