Terrance Coyne Sells 64,399 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 64,399 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Price Performance

Shares of RPRX traded up $0.51 during midday trading on Thursday, reaching $54.48. The stock had a trading volume of 3,044,186 shares, compared to its average volume of 3,526,137. Royalty Pharma PLC has a 52 week low of $32.29 and a 52 week high of $54.74. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The firm’s 50 day moving average price is $49.52 and its 200-day moving average price is $44.27. The company has a market capitalization of $31.37 billion, a P/E ratio of 37.06, a P/E/G ratio of 1.48 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The company had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. On average, analysts forecast that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s payout ratio is currently 63.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RPRX shares. Morgan Stanley boosted their target price on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. boosted 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. UBS Group boosted 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. Finally, TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $53.71.

Institutional Trading of Royalty Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley lifted its holdings in shares of Royalty Pharma by 25.2% during the 4th 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 during the last quarter. Capital International Investors boosted its stake in shares of Royalty Pharma by 14.3% during the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock worth $1,201,870,000 after acquiring an additional 3,891,615 shares in the last quarter. State Street Corp boosted its stake in shares of Royalty Pharma by 3.7% during the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock worth $411,502,000 after acquiring an additional 376,888 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Royalty Pharma by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after acquiring an additional 102,430 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Royalty Pharma by 9.7% during the 4th quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock worth $197,331,000 after acquiring an additional 449,498 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

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.