Royalty Pharma (NASDAQ:RPRX) CFO Terrance Coyne Sells 34,791 Shares

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 34,791 shares of Royalty Pharma stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $48.33, for a total transaction of $1,681,449.03. Following the sale, the chief financial officer directly owned 32,916 shares of the company’s stock, valued at $1,590,830.28. This represents a 51.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Trading Up 0.2%

NASDAQ:RPRX traded up $0.08 during midday trading on Thursday, hitting $48.57. The stock had a trading volume of 2,730,420 shares, compared to its average volume of 3,691,239. Royalty Pharma PLC has a one year low of $29.66 and a one year high of $49.06. The company has a market capitalization of $28.02 billion, a price-to-earnings ratio of 35.98 and a beta of 0.40. The stock has a 50-day moving average of $44.91 and a 200 day moving average of $40.49. 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 issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $621.99 million during the quarter, compared to analyst estimates of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. As a group, sell-side analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The company 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 is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, February 20th. Royalty Pharma’s payout ratio is 69.63%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in Royalty Pharma by 367.7% during the first quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock valued at $6,342,000 after purchasing an additional 160,191 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Royalty Pharma by 20.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock worth $2,490,000 after purchasing an additional 13,489 shares in the last quarter. Focus Partners Wealth bought a new position in Royalty Pharma in the first quarter worth about $264,000. Intech Investment Management LLC lifted its position in shares of Royalty Pharma by 41.0% during the first quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 13,951 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Royalty Pharma by 24.0% during the second quarter. American Century Companies Inc. now owns 92,395 shares of the biopharmaceutical company’s stock valued at $3,329,000 after buying an additional 17,894 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. UBS Group upgraded shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Morgan Stanley restated an “overweight” rating and issued a $61.00 price target on shares of Royalty Pharma in a report on Thursday, February 12th. Finally, Leerink Partners set a $45.00 price target on shares of Royalty Pharma in a research report on Thursday, December 11th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $48.67.

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.