Insider Selling: Royalty Pharma (NASDAQ:RPRX) CFO Sells 69,582 Shares of Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,582 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $38.36, for a total value of $2,669,165.52. Following the completion of the transaction, the chief financial officer directly owned 43,510 shares in the company, valued at approximately $1,669,043.60. The trade was a 61.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Royalty Pharma Stock Down 0.2%

Shares of RPRX traded down $0.07 during midday trading on Wednesday, hitting $38.31. The company had a trading volume of 2,251,085 shares, compared to its average volume of 4,333,543. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.89. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $41.24. The company’s 50 day moving average price is $38.21 and its 200 day moving average price is $36.68. The stock has a market cap of $22.11 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 2.03 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.06. The firm had revenue of $609.29 million for the quarter, compared to analysts’ expectations of $765.01 million. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%. On average, equities research analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, November 14th. Royalty Pharma’s payout ratio is presently 66.67%.

Institutional Investors Weigh In On Royalty Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers bought a new stake in shares of Royalty Pharma in the 1st quarter worth approximately $306,000. LPL Financial LLC raised its position in shares of Royalty Pharma by 189.2% during the first quarter. LPL Financial LLC now owns 69,141 shares of the biopharmaceutical company’s stock worth $2,152,000 after purchasing an additional 45,236 shares during the period. Invesco Ltd. increased its stake in Royalty Pharma by 34.1% in the 1st quarter. Invesco Ltd. now owns 1,284,418 shares of the biopharmaceutical company’s stock worth $39,984,000 after purchasing an additional 326,525 shares in the last quarter. Aberdeen Group plc lifted its stake in Royalty Pharma by 138.5% during the first quarter. Aberdeen Group plc now owns 213,860 shares of the biopharmaceutical company’s stock valued at $6,591,000 after buying an additional 124,193 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Royalty Pharma by 10.9% during the first quarter. American Century Companies Inc. now owns 74,501 shares of the biopharmaceutical company’s stock valued at $2,319,000 after acquiring an additional 7,341 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RPRX. TD Cowen raised their target price on Royalty Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Leerink Partners set a $45.00 price objective on Royalty Pharma in a research report on Thursday, December 11th. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. Finally, Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Thursday, December 11th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Royalty Pharma has an average rating of “Moderate Buy” and an average price target of $45.60.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.