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

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 34,791 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $46.78, for a total transaction of $1,627,522.98. Following the completion of the sale, the chief financial officer owned 45,761 shares of the company’s stock, valued at approximately $2,140,699.58. This trade represents a 43.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Royalty Pharma Trading Down 3.7%

NASDAQ RPRX opened at $45.68 on Friday. The firm’s 50 day moving average price is $42.41 and its two-hundred day moving average price is $39.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. Royalty Pharma PLC has a twelve month low of $29.66 and a twelve month high of $47.86. The stock has a market cap of $26.35 billion, a price-to-earnings ratio of 33.84 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. The business had revenue of $621.99 million during the quarter, compared to analysts’ expectations of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. Equities analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th will be paid a dividend of $0.235 per share. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.94 annualized dividend and a yield of 2.1%. Royalty Pharma’s dividend payout ratio (DPR) is presently 69.63%.

Institutional Trading of Royalty Pharma

Several large investors have recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in Royalty Pharma by 25.2% in the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after purchasing an additional 11,110,115 shares during the last quarter. Capital International Investors raised its position in shares of Royalty Pharma by 24.4% in the third quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock valued at $960,064,000 after purchasing an additional 5,332,074 shares during the period. Norges Bank acquired a new stake in shares of Royalty Pharma in the second quarter worth $181,388,000. Dorsey Asset Management LLC acquired a new stake in shares of Royalty Pharma in the third quarter worth $82,924,000. Finally, Qube Research & Technologies Ltd grew its stake in Royalty Pharma by 737.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock valued at $87,557,000 after buying an additional 2,185,366 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RPRX shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. UBS Group upgraded Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Friday, January 30th. Citigroup upped their target price on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Finally, Weiss Ratings upgraded Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $48.67.

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.