33,503 Royalty Pharma PLC $RPRX Shares Sold by Bryn Mawr Trust Advisors LLC

Bryn Mawr Trust Advisors LLC cut its position in Royalty Pharma PLC (NASDAQ:RPRX) by 11.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 272,283 shares of the biopharmaceutical company’s stock after selling 33,503 shares during the period. Bryn Mawr Trust Advisors LLC’s holdings in Royalty Pharma were worth $15,890,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RPRX. Hohimer Wealth Management LLC acquired a new stake in Royalty Pharma in the third quarter valued at $8,399,000. M Holdings Securities Inc. bought a new position in shares of Royalty Pharma in the 3rd quarter valued at about $297,000. Ethic Inc. grew its position in shares of Royalty Pharma by 37.6% in the 3rd quarter. Ethic Inc. now owns 6,324 shares of the biopharmaceutical company’s stock valued at $369,000 after acquiring an additional 1,727 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Royalty Pharma by 13.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 343,561 shares of the biopharmaceutical company’s stock worth $20,041,000 after purchasing an additional 40,095 shares during the last quarter. Finally, Calamos Wealth Management LLC increased its stake in shares of Royalty Pharma by 3.8% during the 3rd quarter. Calamos Wealth Management LLC now owns 196,188 shares of the biopharmaceutical company’s stock worth $11,450,000 after purchasing an additional 7,224 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RPRX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Morgan Stanley lifted their price target on Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $66.00 price target on shares of Royalty Pharma in a report on Thursday, August 6th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Finally, TD Cowen upped their price objective on Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Eight analysts have rated the stock with a Buy rating. According to MarketBeat.com, Royalty Pharma presently has a consensus rating of “Buy” and a consensus price target of $63.29.

Royalty Pharma Price Performance

RPRX opened at $67.30 on Monday. The stock’s fifty day simple moving average is $60.82 and its 200 day simple moving average is $53.81. Royalty Pharma PLC has a 1-year low of $37.31 and a 1-year high of $69.77. The stock has a market cap of $38.70 billion, a PE ratio of 56.08, a price-to-earnings-growth ratio of 1.33 and a beta of 0.36. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.77.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be issued a $0.2350 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s payout ratio is currently 78.33%.

Insider Buying and Selling at Royalty Pharma

In other news, EVP Marshall Urist sold 4,126 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the sale, the executive vice president directly owned 270,401 shares of the company’s stock, valued at $15,826,570.53. The trade was a 27.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 208,252 shares of company stock worth $12,324,407. Corporate insiders own 18.84% of the company’s stock.

Royalty Pharma Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding.

The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.

Founded in 1996 by Pablo Legorreta, the company became publicly listed in 2020.