Insider Selling: Royalty Pharma (NASDAQ:RPRX) CFO Sells $1,681,449.03 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 34,791 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $48.33, for a total transaction of $1,681,449.03. Following the completion of the transaction, the chief financial officer directly owned 32,916 shares of the company’s stock, valued at approximately $1,590,830.28. The trade was a 51.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Stock Performance

RPRX opened at $48.57 on Friday. The stock has a 50-day moving average of $45.24 and a 200 day moving average of $40.67. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 12 month low of $29.66 and a 12 month high of $49.06. The firm has a market cap of $28.02 billion, a P/E ratio of 35.98 and a beta of 0.39.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. As a group, research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 20th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, February 20th. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s payout ratio is currently 69.63%.

Analyst Ratings Changes

A number of research analysts have weighed in on RPRX shares. Morgan Stanley reiterated an “overweight” rating and set a $61.00 price objective on shares of Royalty Pharma in a research report on Thursday, February 12th. UBS Group raised shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Friday, January 30th. Leerink Partners set a $45.00 price target on shares of Royalty Pharma in a report on Thursday, December 11th. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Finally, Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and an average price target of $48.67.

Institutional Trading of Royalty Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Royalty Pharma during the third quarter worth approximately $933,000. Nordea Investment Management AB raised its stake in shares of Royalty Pharma by 18.3% during the third quarter. Nordea Investment Management AB now owns 775,999 shares of the biopharmaceutical company’s stock valued at $27,137,000 after acquiring an additional 120,004 shares in the last quarter. World Investment Advisors purchased a new stake in shares of Royalty Pharma in the third quarter valued at approximately $1,702,000. Generali Asset Management SPA SGR boosted its holdings in shares of Royalty Pharma by 7,752.8% in the third quarter. Generali Asset Management SPA SGR now owns 34,081 shares of the biopharmaceutical company’s stock valued at $1,202,000 after purchasing an additional 33,647 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Royalty Pharma by 28.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 140,131 shares of the biopharmaceutical company’s stock worth $4,944,000 after purchasing an additional 31,045 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

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.