Royalty Pharma (NASDAQ:RPRX) CFO Terrance Coyne Sells 34,791 Shares of Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 34,791 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $49.78, for a total value of $1,731,895.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Stock Up 1.2%

Shares of RPRX stock opened at $50.09 on Friday. The stock has a market cap of $28.89 billion, a P/E ratio of 37.10, a price-to-earnings-growth ratio of 3.16 and a beta of 0.39. Royalty Pharma PLC has a one year low of $31.97 and a one year high of $50.47. The stock has a fifty day moving average price of $47.31 and a 200 day moving average price of $42.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. The firm had revenue of $621.99 million during the quarter, compared to analysts’ expectations of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. Analysts predict that Royalty Pharma PLC will post 5.08 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is 69.63%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RPRX. Morgan Stanley increased its stake in shares of Royalty Pharma by 25.2% in the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock valued at $2,135,790,000 after buying an additional 11,110,115 shares in the last quarter. Capital International Investors increased its stake in shares of Royalty Pharma by 14.3% in the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after buying an additional 3,891,615 shares in the last quarter. State Street Corp increased its stake in shares of Royalty Pharma by 3.7% in the fourth quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock valued at $411,502,000 after buying an additional 376,888 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Royalty Pharma by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock valued at $297,465,000 after buying an additional 102,430 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Royalty Pharma by 9.7% in the fourth quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock valued at $197,331,000 after buying an additional 449,498 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several research reports. UBS Group raised their target price on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Morgan Stanley increased their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Citigroup increased their price objective on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $50.33.

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.