Marshall Urist Sells 9,098 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Marshall Urist sold 9,098 shares of Royalty Pharma stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $55.18, for a total transaction of $502,027.64. Following the completion of the transaction, the executive vice president owned 9,099 shares of the company’s stock, valued at $502,082.82. This represents a 50.00% decrease in their position. The sale was disclosed in a legal 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.

Marshall Urist also recently made the following trade(s):

• On Wednesday, May 20th, Marshall Urist sold 13,684 shares of Royalty Pharma stock. The shares were sold at an average price of $52.75, for a total transaction of $721,831.00.
• On Thursday, May 14th, Marshall Urist sold 13,684 shares of Royalty Pharma stock. The shares were sold at an average price of $53.06, for a total transaction of $726,073.04.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $56.23 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $52.81 and a 200-day simple moving average of $46.59. The stock has a market cap of $32.38 billion, a P/E ratio of 38.25, a price-to-earnings-growth ratio of 1.50 and a beta of 0.43. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $56.50.

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

Royalty Pharma Dividend Announcement

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

Institutional Trading of Royalty Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in RPRX. Nomura Asset Management Co. Ltd. grew its position in shares of Royalty Pharma by 16.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock worth $6,662,000 after acquiring an additional 24,048 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Royalty Pharma in the 4th quarter valued at $4,923,000. Qsemble Capital Management LP purchased a new stake in Royalty Pharma in the 4th quarter valued at $2,875,000. Regal Partners Ltd raised its position in Royalty Pharma by 6.7% in the 3rd quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock valued at $50,631,000 after purchasing an additional 89,930 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Royalty Pharma by 4.7% during the 4th quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock worth $31,604,000 after purchasing an additional 36,664 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

RPRX has been the topic of several research analyst reports. Citigroup raised their target price on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. raised their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Morgan Stanley boosted their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, UBS Group upped their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma currently has a consensus rating of “Buy” and an average target price of $53.71.

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.