Insider Selling: Royalty Pharma (NASDAQ:RPRX) EVP Sells $5,997,000.00 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 100,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $59.97, for a total value of $5,997,000.00. Following the completion of the transaction, the executive vice president directly owned 370,401 shares in the company, valued at $22,212,947.97. This trade represents a 21.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 30th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The shares were sold at an average price of $56.52, for a total value 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 value of $1,693,800.00.
• On Tuesday, June 23rd, Christopher Hite sold 150,000 shares of Royalty Pharma stock. The stock was sold at an average price of $54.40, for a total value of $8,160,000.00.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX opened at $61.31 on Friday. The business has a 50-day moving average of $57.36 and a two-hundred day moving average of $51.81. The firm has a market capitalization of $35.25 billion, a PE ratio of 42.28, a P/E/G ratio of 1.41 and a beta of 0.43. 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 12 month low of $34.08 and a 12 month high of $62.13.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. The business had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. As a group, research analysts forecast that Royalty Pharma PLC will post 5.3 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s payout ratio is 64.83%.

Hedge Funds Weigh In On Royalty Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RPRX. Phillips Wealth Planners LLC lifted its stake in shares of Royalty Pharma by 1.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after acquiring an additional 242 shares in the last quarter. Strs Ohio grew its stake in Royalty Pharma by 2.8% during the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 252 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Royalty Pharma by 3.4% during the 1st quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock valued at $375,000 after purchasing an additional 254 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Royalty Pharma by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after purchasing an additional 255 shares in the last quarter. Finally, Cary Street Partners Financial LLC increased its holdings in Royalty Pharma by 1.1% during the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after purchasing an additional 260 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $66.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. TD Cowen upped their price target on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Citigroup raised their price objective on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Royalty Pharma in a research note on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, Royalty Pharma has a consensus rating of “Buy” and a consensus target price of $60.86.

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.