Insider Selling: Royalty Pharma (NASDAQ:RPRX) CFO Sells $2,738,051.70 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,582 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $39.35, for a total transaction of $2,738,051.70. Following the completion of the sale, the chief financial officer owned 36,010 shares in the company, valued at approximately $1,416,993.50. This trade represents a 65.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Royalty Pharma Price Performance

RPRX stock opened at $40.40 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a 50 day moving average price of $39.35 and a 200-day moving average price of $37.58. Royalty Pharma PLC has a 52-week low of $29.66 and a 52-week high of $41.70. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.54 and a beta of 0.43.

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

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be given a $0.235 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.94 annualized dividend and a dividend yield of 2.3%. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price on the stock. TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. Leerink Partners set a $45.00 target price on Royalty Pharma in a research note on Thursday, December 11th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Finally, Morgan Stanley lowered their price target on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.60.

Institutional Investors Weigh In On Royalty Pharma

A number of hedge funds have recently added to or reduced their stakes in RPRX. Smartleaf Asset Management LLC lifted its holdings in shares of Royalty Pharma by 868.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 790 shares during the period. USA Financial Formulas purchased a new stake in Royalty Pharma during the second quarter valued at $32,000. Financial Consulate Inc. bought a new position in Royalty Pharma in the third quarter valued at about $35,000. Larson Financial Group LLC boosted its position in Royalty Pharma by 31.9% in the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 306 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Royalty Pharma by 113.8% in the second quarter. Farther Finance Advisors LLC now owns 1,428 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 760 shares during the last quarter. 54.35% of the stock is currently 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.