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

Royalty Pharma PLC (NASDAQ:RPRX)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $47.95 and last traded at $47.9650, with a volume of 2004466 shares traded. The stock had previously closed at $46.37.

Analysts Set New Price Targets

Several equities analysts have issued reports on RPRX shares. Morgan Stanley restated an “overweight” rating and issued a $61.00 price objective on shares of Royalty Pharma in a research note on Thursday, February 12th. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a report on Friday, January 30th. Leerink Partners set a $45.00 target price on Royalty Pharma in a research report on Thursday, December 11th. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Finally, Citigroup lifted their price target on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $48.67.

Royalty Pharma Stock Performance

The stock has a market cap of $27.67 billion, a PE ratio of 35.53 and a beta of 0.40. The stock has a fifty day moving average of $44.55 and a 200-day moving average of $40.35. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.33 by $0.13. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%.The firm had revenue of $621.99 million during the quarter, compared to the consensus estimate of $839.97 million. On average, equities analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 2.0%. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 20th. Royalty Pharma’s dividend payout ratio (DPR) is currently 69.63%.

Insider Buying and Selling at Royalty Pharma

In other news, CFO Terrance P. Coyne sold 34,791 shares of Royalty Pharma stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $45.53, for a total value of $1,584,034.23. Following the sale, the chief financial officer owned 43,886 shares of the company’s stock, valued at $1,998,129.58. The trade was a 44.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marshall Urist sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $41.09, for a total transaction of $821,800.00. The SEC filing for this sale provides additional information. Insiders sold a total of 532,287 shares of company stock valued at $22,215,917 in the last 90 days. Company insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors have recently modified their holdings of RPRX. LM Advisors LLC purchased a new stake in Royalty Pharma during the fourth quarter worth $26,000. Lloyd Advisory Services LLC. purchased a new position in Royalty Pharma during the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC raised its position in Royalty Pharma by 868.1% during the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 790 shares during the last quarter. Private Trust Co. NA raised its position in Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 288 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new stake in shares of Royalty Pharma in the third quarter valued at about $35,000. Hedge funds and other institutional investors 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.