Royalty Pharma (NASDAQ:RPRX) Hits New 12-Month High – What’s Next?

Royalty Pharma PLC (NASDAQ:RPRX) shares hit a new 52-week high on Wednesday . The company traded as high as $60.08 and last traded at $59.97, with a volume of 3138526 shares trading hands. The stock had previously closed at $58.73.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RPRX. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. UBS Group upped their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. TD Cowen increased their target price on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 13th. JPMorgan Chase & Co. raised their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley boosted their price target on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and a consensus target price of $56.57.

Royalty Pharma Trading Down 0.3%

The stock has a fifty day moving average of $56.11 and a 200 day moving average of $49.80. The company has a market capitalization of $33.99 billion, a P/E ratio of 40.15, a PEG ratio of 10.48 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66.

Royalty Pharma (NASDAQ:RPRX) last released 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 business had revenue of $630.58 million during 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%. As a group, equities research analysts anticipate that Royalty Pharma PLC will post 5.18 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s payout ratio is 63.95%.

Insider Buying and Selling

In other Royalty Pharma news, CFO Terrance P. Coyne sold 64,399 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total transaction of $3,476,258.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $52.75, for a total transaction of $721,831.00. Following the transaction, the executive vice president directly owned 18,197 shares in the company, valued at $959,891.75. This represents a 42.92% decrease in their position. 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 quarter, insiders have sold 393,009 shares of company stock valued at $21,601,827. Insiders own 18.84% of the company’s stock.

Institutional Trading of Royalty Pharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Phillips Wealth Planners LLC lifted its position in shares of Royalty Pharma by 1.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock valued at $521,000 after acquiring an additional 242 shares in the last quarter. Strs Ohio boosted its stake in shares of Royalty Pharma by 2.8% in the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 252 shares during the period. Glenmede Trust Co. NA grew its position in shares of Royalty Pharma by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock worth $375,000 after purchasing an additional 254 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Royalty Pharma by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after purchasing an additional 255 shares in the last quarter. Finally, Cary Street Partners Financial LLC raised its stake in Royalty Pharma by 1.1% during the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock valued at $943,000 after purchasing an additional 260 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

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.