20,000 Shares in Royalty Pharma PLC $RPRX Acquired by Canal Insurance CO

Canal Insurance CO acquired a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 20,000 shares of the biopharmaceutical company’s stock, valued at approximately $959,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RPRX. LM Advisors LLC purchased a new position in shares of Royalty Pharma during the 4th quarter worth $26,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Royalty Pharma in the fourth quarter valued at about $30,000. Private Trust Co. NA grew its holdings in shares of Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 288 shares during the period. Blue Trust Inc. grew its holdings 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 purchasing an additional 437 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in Royalty Pharma by 66.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 446 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on RPRX. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. TD Cowen raised their price target on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Monday. Citigroup raised their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Morgan Stanley upped their price objective on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Finally, Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $56.57.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $56.45 on Tuesday. The firm’s 50 day moving average price is $54.48 and its 200-day moving average price is $48.08. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $58.84. The firm has a market cap of $32.51 billion, a P/E ratio of 38.40, a P/E/G ratio of 1.55 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. As a group, equities research analysts predict that Royalty Pharma PLC will post 5.06 EPS for the current year.

Royalty Pharma Dividend Announcement

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

Insider Transactions at Royalty Pharma

In related news, EVP Marshall Urist sold 13,684 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.06, for a total value of $726,073.04. Following the sale, the executive vice president owned 31,881 shares in the company, valued at approximately $1,691,605.86. The trade was a 30.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 427,800 shares of company stock valued at $23,333,723 over the last three months. 18.84% of the stock is currently owned by company insiders.

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.