Royalty Pharma (NASDAQ:RPRX) EVP Sells $5,853,000.00 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 100,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the sale, the executive vice president owned 270,401 shares in the company, valued at $15,826,570.53. The trade was a 27.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Hite also recently made the following trade(s):

• On Tuesday, August 18th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The shares were sold at an average price of $59.97, for a total transaction of $5,997,000.00.
• On Tuesday, June 30th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.52, for a total transaction of $5,652,000.00.
• On Tuesday, June 30th, Christopher Hite sold 30,000 shares of Royalty Pharma stock. The shares were sold at an average price of $56.46, for a total transaction of $1,693,800.00.

Royalty Pharma Price Performance

RPRX traded up $0.64 during trading on Thursday, hitting $58.29. 2,019,004 shares of the stock traded hands, compared to its average volume of 3,463,290. The business has a 50 day moving average price of $59.57 and a 200 day moving average price of $54.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. Royalty Pharma PLC has a twelve month low of $34.63 and a twelve month high of $64.38. The company has a market cap of $33.52 billion, a price-to-earnings ratio of 40.20, a PEG ratio of 1.38 and a beta of 0.44.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The firm had revenue of $674.14 million for the quarter, compared to the consensus estimate of $758.93 million. Equities research analysts forecast that Royalty Pharma PLC will post 5.32 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were paid a $0.2350 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is presently 64.83%.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds have recently modified their holdings of the business. LM Advisors LLC bought a new position in Royalty Pharma during the 4th quarter worth $26,000. Blue Trust Inc. increased its stake in shares of Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 437 shares during the period. CoreCap Advisors LLC raised its position in shares of Royalty Pharma by 89.2% during the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 413 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Royalty Pharma by 34.7% during the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 282 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Royalty Pharma by 263.3% in the second quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 861 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $66.00 price target on shares of Royalty Pharma in a research note on Thursday, August 6th. TD Cowen boosted their price objective on Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Finally, Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $61.29.

About Royalty Pharma

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.

Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.