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

Royalty Pharma PLC (NASDAQ:RPRX) reached a new 52-week high during trading on Monday . The company traded as high as $59.33 and last traded at $57.5710, with a volume of 2849 shares trading hands. The stock had previously closed at $57.77.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Citigroup boosted their price objective on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. UBS Group upped their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley lifted their target price on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, Royalty Pharma currently has an average rating of “Buy” and a consensus price target of $53.71.

Royalty Pharma Trading Down 0.8%

The firm has a market capitalization of $33.00 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 1.59 and a beta of 0.43. The firm’s 50 day moving average is $53.56 and its 200 day moving average is $47.30. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86.

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

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Insider Buying and Selling

In related news, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $56.52, for a total value of $5,652,000.00. Following the transaction, the executive vice president directly owned 459,399 shares in the company, valued at $25,965,231.48. The trade was a 17.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 427,800 shares of company stock valued at $23,333,723. 18.84% of the stock is owned by insiders.

Institutional Trading of Royalty Pharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barton Investment Management purchased a new position in Royalty Pharma during the 1st quarter worth approximately $905,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Royalty Pharma by 16.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock valued at $6,662,000 after purchasing an additional 24,048 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Royalty Pharma in the fourth quarter worth $4,923,000. Qsemble Capital Management LP acquired a new stake in shares of Royalty Pharma in the fourth quarter worth $2,875,000. Finally, Regal Partners Ltd grew its holdings in shares of Royalty Pharma by 6.7% during the third quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock valued at $50,631,000 after buying an additional 89,930 shares in the last quarter. Institutional investors and hedge funds 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.