Insider Selling: Royalty Pharma (NASDAQ:RPRX) EVP Sells 9,099 Shares

Royalty Pharma PLC (NASDAQ:RPRX) EVP Marshall Urist sold 9,099 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marshall Urist also recently made the following trade(s):

• On Wednesday, June 24th, Marshall Urist sold 9,098 shares of Royalty Pharma stock. The stock was sold at an average price of $55.18, for a total value of $502,027.64.
• On Wednesday, May 20th, Marshall Urist sold 13,684 shares of Royalty Pharma stock. The shares were sold at an average price of $52.75, for a total value of $721,831.00.
• On Thursday, May 14th, Marshall Urist sold 13,684 shares of Royalty Pharma stock. The shares were sold at an average price of $53.06, for a total value of $726,073.04.

Royalty Pharma Trading Up 3.6%

NASDAQ RPRX traded up $1.99 during trading hours on Thursday, hitting $57.77. 3,227,665 shares of the company’s stock were exchanged, compared to its average volume of 3,705,712. The firm has a market cap of $33.27 billion, a price-to-earnings ratio of 39.30, a PEG ratio of 1.54 and a beta of 0.43. The stock has a 50-day simple moving average of $53.23 and a 200 day simple moving average of $47.02. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a 1-year low of $34.08 and a 1-year high of $57.80.

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

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, May 15th. Royalty Pharma’s payout ratio is presently 63.95%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RPRX. Morgan Stanley boosted its holdings in shares of Royalty Pharma by 25.2% in the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after buying an additional 11,110,115 shares during the last quarter. Capital International Investors raised its position in Royalty Pharma by 24.4% in the third quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after acquiring an additional 5,332,074 shares during the period. Norges Bank purchased a new position in Royalty Pharma in the fourth quarter valued at about $131,923,000. Dorsey Asset Management LLC bought a new position in shares of Royalty Pharma during the 3rd quarter valued at approximately $82,924,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Royalty Pharma by 737.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock worth $87,557,000 after purchasing an additional 2,185,366 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RPRX shares. Citigroup increased their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. UBS Group raised their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings lowered Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $53.71.

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.