Royalty Pharma (NASDAQ:RPRX) EVP Sells $721,831.00 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Marshall Urist sold 13,684 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total value of $721,831.00. Following the transaction, the executive vice president directly owned 18,197 shares in the company, valued at approximately $959,891.75. This trade represents a 42.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 14th, Marshall Urist sold 13,684 shares of Royalty Pharma stock. The stock was sold at an average price of $53.06, for a total value of $726,073.04.

Royalty Pharma Stock Up 1.8%

RPRX stock opened at $54.50 on Friday. The stock’s 50 day simple moving average is $49.03 and its 200 day simple moving average is $43.91. Royalty Pharma PLC has a fifty-two week low of $32.15 and a fifty-two week high of $54.64. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $31.38 billion, a P/E ratio of 37.08, a price-to-earnings-growth ratio of 1.50 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The business had revenue of $631.00 million for the quarter, compared to the consensus estimate of $881.69 million. On average, research analysts expect that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.94 annualized dividend and a dividend yield of 1.7%. Royalty Pharma’s dividend payout ratio is 63.95%.

Wall Street Analyst Weigh In

Several analysts have recently commented on RPRX shares. JPMorgan Chase & Co. increased their price objective on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Morgan Stanley increased their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $53.71.

Institutional Trading of Royalty Pharma

A number of institutional investors and hedge funds have recently modified their holdings of RPRX. Royal Bank of Canada increased its position in shares of Royalty Pharma by 367.7% during the first quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock valued at $6,342,000 after acquiring an additional 160,191 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Royalty Pharma by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock valued at $2,490,000 after acquiring an additional 13,489 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Royalty Pharma during the first quarter valued at approximately $264,000. Intech Investment Management LLC increased its position in shares of Royalty Pharma by 41.0% during the first quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after acquiring an additional 13,951 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Royalty Pharma by 21.4% during the second quarter. Invesco Ltd. now owns 1,559,378 shares of the biopharmaceutical company’s stock valued at $56,184,000 after acquiring an additional 274,960 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

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.