Insider Selling: Royalty Pharma (NASDAQ:RPRX) CFO Sells $1,627,522.98 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 34,791 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $46.78, for a total value of $1,627,522.98. Following the completion of the sale, the chief financial officer owned 45,761 shares in the company, valued at approximately $2,140,699.58. This represents a 43.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Royalty Pharma Trading Down 0.6%

NASDAQ:RPRX opened at $45.41 on Friday. Royalty Pharma PLC has a 1 year low of $29.66 and a 1 year high of $47.86. The stock has a market cap of $26.20 billion, a P/E ratio of 33.64 and a beta of 0.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. The stock has a 50-day simple moving average of $42.54 and a 200-day simple moving average of $39.20.

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

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be given a dividend of $0.235 per share. The ex-dividend date is Friday, February 20th. This represents a $0.94 annualized dividend and a dividend yield of 2.1%. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s payout ratio is presently 69.63%.

Institutional Trading of Royalty Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPRX. LM Advisors LLC purchased a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $26,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Royalty Pharma during the fourth quarter worth approximately $30,000. Private Trust Co. NA raised its stake in shares of Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Royalty Pharma by 868.1% during the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 790 shares during the period. Finally, Financial Consulate Inc. purchased a new position in Royalty Pharma in the 3rd quarter valued at $35,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on RPRX. Citigroup lifted their price target on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Leerink Partners set a $45.00 price target on Royalty Pharma in a research report on Thursday, December 11th. Weiss Ratings raised Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 12th. TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $61.00 price target on shares of Royalty Pharma in a research report on Thursday, February 12th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and an average price target of $48.67.

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.