Terrance Coyne Sells 64,399 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 64,399 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Trading Up 2.3%

Shares of Royalty Pharma stock opened at $55.76 on Friday. Royalty Pharma PLC has a 12-month low of $32.29 and a 12-month high of $56.07. The stock has a market capitalization of $32.11 billion, a P/E ratio of 37.93, a price-to-earnings-growth ratio of 1.50 and a beta of 0.40. The company has a 50-day simple moving average of $49.89 and a 200 day simple moving average of $44.46. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The firm had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. Research analysts expect that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RPRX. LM Advisors LLC acquired a new position in shares of Royalty Pharma during the 4th quarter worth about $26,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Royalty Pharma in the 4th quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted its stake in Royalty Pharma by 868.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 790 shares during the last quarter. Private Trust Co. NA boosted its stake in Royalty Pharma by 52.9% during the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 288 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 437 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RPRX shares. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Morgan Stanley upped their price target on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Finally, UBS Group raised their price target on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $53.71.

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.