Terrance Coyne Sells 69,582 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,582 shares of Royalty Pharma stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $38.42, for a total transaction of $2,673,340.44. Following the transaction, the chief financial officer directly owned 39,760 shares of the company’s stock, valued at $1,527,579.20. This represents a 63.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Royalty Pharma Stock Performance

Shares of RPRX opened at $40.21 on Thursday. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $39.29 and its two-hundred day simple moving average is $37.38. Royalty Pharma PLC has a 12 month low of $29.66 and a 12 month high of $41.70. The stock has a market capitalization of $23.21 billion, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%. As a group, analysts predict 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 will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 2.3%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 20th. Royalty Pharma’s payout ratio is presently 66.67%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings downgraded Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Cowen reiterated a “buy” rating on shares of Royalty Pharma in a report on Thursday, December 11th. Leerink Partners set a $45.00 price objective on Royalty Pharma in a research note on Thursday, December 11th. Morgan Stanley lowered their target price on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Finally, The Goldman Sachs Group began coverage on Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.60.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RPRX. Capital International Investors grew its position in Royalty Pharma by 24.4% in the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after purchasing an additional 5,332,074 shares in the last quarter. Norges Bank purchased a new position in shares of Royalty Pharma in the 2nd quarter worth approximately $181,388,000. Dorsey Asset Management LLC purchased a new position in shares of Royalty Pharma in the 3rd quarter worth approximately $82,924,000. Qube Research & Technologies Ltd grew its holdings in shares of Royalty Pharma by 737.3% in the third quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock valued at $87,557,000 after acquiring an additional 2,185,366 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Royalty Pharma by 379.2% during the third quarter. Millennium Management LLC now owns 2,235,133 shares of the biopharmaceutical company’s stock valued at $78,855,000 after acquiring an additional 1,768,702 shares during the last quarter. 54.35% of the stock is owned by 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.