Insider Selling: Royalty Pharma (NASDAQ:RPRX) Director Sells 3,045 Shares of Stock

Royalty Pharma PLC (NASDAQ:RPRX) Director Gregory Norden sold 3,045 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the transaction, the director owned 191,803 shares in the company, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Stock Performance

NASDAQ:RPRX traded down $0.55 during midday trading on Friday, reaching $52.85. The stock had a trading volume of 4,264,710 shares, compared to its average volume of 3,562,113. Royalty Pharma PLC has a 1-year low of $32.15 and a 1-year high of $53.47. The firm’s fifty day simple moving average is $48.20 and its 200-day simple moving average is $43.28. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market capitalization of $30.43 billion, a P/E ratio of 35.95, a PEG ratio of 1.46 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating 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 business had revenue of $631.00 million for the quarter, compared to analyst estimates of $881.69 million. On average, equities research analysts forecast that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a $0.235 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a yield of 1.8%. Royalty Pharma’s dividend payout ratio (DPR) is presently 63.95%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RPRX. UBS Group raised their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Morgan Stanley raised their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and a consensus price target of $53.71.

Institutional Trading of Royalty Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Phillips Wealth Planners LLC grew its position in Royalty Pharma by 1.9% in the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after purchasing an additional 242 shares during the last quarter. Strs Ohio grew its position in Royalty Pharma by 2.8% in the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 252 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after purchasing an additional 255 shares during the last quarter. Cary Street Partners Financial LLC grew its position in Royalty Pharma by 1.1% in 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. Finally, Bessemer Group Inc. grew its position in Royalty Pharma by 34.7% in the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 282 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

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.