Royalty Pharma (NASDAQ:RPRX) CFO Terrance Coyne Sells 64,399 Shares

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 64,399 shares of Royalty Pharma stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Trading Up 0.9%

Shares of NASDAQ RPRX opened at $54.48 on Friday. 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 $31.37 billion, a P/E ratio of 37.06, a price-to-earnings-growth ratio of 1.48 and a beta of 0.40. Royalty Pharma PLC has a 1-year low of $32.29 and a 1-year high of $54.74. The business has a fifty day moving average price of $49.69 and a 200 day moving average price of $44.38.

Royalty Pharma (NASDAQ:RPRX) last issued 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. The firm had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. Equities research analysts expect that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Morgan Stanley raised its stake in shares of Royalty Pharma by 25.2% in the fourth 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 lifted its holdings in Royalty Pharma by 14.3% in the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after acquiring an additional 3,891,615 shares during the period. State Street Corp lifted its holdings in Royalty Pharma by 3.7% in the fourth quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock valued at $411,502,000 after acquiring an additional 376,888 shares during the period. Geode Capital Management LLC lifted its holdings in Royalty Pharma by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock valued at $297,465,000 after acquiring an additional 102,430 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Royalty Pharma by 9.7% in the fourth quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock valued at $197,331,000 after acquiring an additional 449,498 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RPRX. JPMorgan Chase & Co. raised their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. UBS Group raised their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Citigroup raised their price objective on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley raised their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $53.71.

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.