Royalty Pharma (NASDAQ:RPRX) Sets New 1-Year High – Here’s What Happened

Royalty Pharma PLC (NASDAQ:RPRX) shares hit a new 52-week high on Tuesday . The company traded as high as $47.95 and last traded at $47.9650, with a volume of 2004466 shares traded. The stock had previously closed at $46.37.

Wall Street Analysts Forecast Growth

RPRX has been the topic of a number of recent research reports. Weiss Ratings raised Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. Leerink Partners set a $45.00 price target on Royalty Pharma in a report on Thursday, December 11th. Morgan Stanley restated an “overweight” rating and issued a $61.00 price objective on shares of Royalty Pharma in a research report on Thursday, February 12th. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. 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 target price of $48.67.

Royalty Pharma Stock Up 3.4%

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 firm has a market cap of $27.67 billion, a PE ratio of 35.53 and a beta of 0.40. The firm’s 50 day moving average is $44.55 and its 200-day moving average is $40.35.

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

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 2.0%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 20th. Royalty Pharma’s payout ratio is 69.63%.

Insiders Place Their Bets

In other news, CFO Terrance P. Coyne sold 34,791 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $45.53, for a total transaction of $1,584,034.23. Following the completion of the transaction, the chief financial officer owned 43,886 shares of the company’s stock, valued at $1,998,129.58. This represents a 44.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Marshall Urist sold 20,000 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $41.09, for a total transaction of $821,800.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 532,287 shares of company stock valued at $22,215,917. Company insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Royalty Pharma

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in shares of Royalty Pharma by 367.7% in the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock worth $6,342,000 after buying an additional 160,191 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 worth $2,490,000 after acquiring an additional 13,489 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Royalty Pharma in the 1st quarter worth about $264,000. Intech Investment Management LLC lifted its stake in shares of Royalty Pharma by 41.0% in the 1st quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after purchasing an additional 13,951 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Royalty Pharma by 24.0% in the 2nd quarter. American Century Companies Inc. now owns 92,395 shares of the biopharmaceutical company’s stock valued at $3,329,000 after purchasing an additional 17,894 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

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.