Royalty Pharma (NASDAQ:RPRX) EVP Sells $238,812.88 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Marshall Urist sold 4,126 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $57.88, for a total value of $238,812.88. Following the transaction, the executive vice president directly owned 4,126 shares of the company’s stock, valued at $238,812.88. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $57.16 on Friday. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $59.52 and its 200 day moving average price is $54.90. Royalty Pharma PLC has a 52-week low of $35.23 and a 52-week high of $64.38. The firm has a market cap of $32.87 billion, a P/E ratio of 39.42, a PEG ratio of 1.36 and a beta of 0.42.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The company had revenue of $674.14 million during the quarter, compared to the consensus estimate of $758.93 million. As a group, sell-side analysts predict that Royalty Pharma PLC will post 5.32 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were paid a dividend of $0.2350 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.94 annualized dividend and a yield of 1.6%. Royalty Pharma’s dividend payout ratio is currently 64.83%.

Analyst Ratings Changes

Several research firms have issued reports on RPRX. JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings raised Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 14th. The Goldman Sachs Group restated a “buy” rating and issued a $66.00 target price on shares of Royalty Pharma in a report on Thursday, August 6th. Finally, TD Cowen boosted their target price on Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $61.29.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RPRX. Sequoia Financial Advisors LLC boosted its holdings in shares of Royalty Pharma by 11.8% during the second quarter. Sequoia Financial Advisors LLC now owns 17,513 shares of the biopharmaceutical company’s stock worth $982,000 after purchasing an additional 1,843 shares during the period. Tidal Investments LLC increased its stake in Royalty Pharma by 298.6% in the 2nd quarter. Tidal Investments LLC now owns 118,323 shares of the biopharmaceutical company’s stock valued at $6,634,000 after buying an additional 88,642 shares during the period. WINTON GROUP Ltd purchased a new stake in Royalty Pharma in the 2nd quarter worth approximately $1,278,000. Engineers Gate Manager LP lifted its position in Royalty Pharma by 141.2% in the 2nd quarter. Engineers Gate Manager LP now owns 137,994 shares of the biopharmaceutical company’s stock worth $7,737,000 after buying an additional 80,771 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its position in Royalty Pharma by 14.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,385 shares of the biopharmaceutical company’s stock worth $863,000 after buying an additional 1,907 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 biopharmaceutical royalty acquisition company that provides funding to life sciences companies in exchange for rights to future payments associated with approved or development-stage medicines. Its business model gives biotechnology and pharmaceutical companies access to capital while allowing Royalty Pharma to participate in the commercial success of therapies without directly developing or marketing them.

The company invests in royalties and other economic interests tied to a broad range of biopharmaceutical products, including treatments for cancer, rare diseases, immune disorders, diabetes and other chronic conditions.