Royalty Pharma (NASDAQ:RPRX) CFO Sells $2,673,340.44 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,582 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $38.42, for a total transaction of $2,673,340.44. Following the completion of the transaction, the chief financial officer owned 39,760 shares in the company, valued at $1,527,579.20. This represents a 63.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Royalty Pharma Stock Down 1.2%

RPRX stock opened at $39.72 on Friday. The company’s 50 day moving average is $39.27 and its two-hundred day moving average is $37.40. Royalty Pharma PLC has a twelve month low of $29.66 and a twelve month high of $41.70. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.89. The stock has a market cap of $22.93 billion, a P/E ratio of 30.09, a PEG ratio of 1.93 and a beta of 0.43.

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

Royalty Pharma Increases Dividend

The company also recently announced 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. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, February 20th. Royalty Pharma’s payout ratio is presently 66.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RPRX. Smartleaf Asset Management LLC raised its stake 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 last quarter. USA Financial Formulas acquired a new position in Royalty Pharma in the 2nd quarter valued at $32,000. Financial Consulate Inc. acquired a new position in Royalty Pharma in the 3rd quarter valued at $35,000. Larson Financial Group LLC raised its position in Royalty Pharma by 31.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 306 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Royalty Pharma by 42.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 402 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of research analyst reports. Weiss Ratings cut Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Morgan Stanley reduced their price objective on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Cowen restated a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. The Goldman Sachs Group began coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, Leerink Partners set a $45.00 price target on shares of Royalty Pharma in a research report on Thursday, December 11th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.60.

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.