Royalty Pharma (NASDAQ:RPRX) EVP Christopher Hite Sells 150,000 Shares

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 150,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total value of $8,160,000.00. Following the transaction, the executive vice president owned 559,399 shares in the company, valued at $30,431,305.60. This represents a 21.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Royalty Pharma Price Performance

RPRX traded up $0.41 during trading on Thursday, hitting $54.69. The company’s stock had a trading volume of 2,461,173 shares, compared to its average volume of 3,711,937. The firm has a market capitalization of $31.49 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 1.52 and a beta of 0.43. Royalty Pharma PLC has a twelve month low of $34.08 and a twelve month high of $56.50. The business’s fifty day simple moving average is $52.54 and its 200 day simple moving average is $46.42. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRX) last announced 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 return on equity of 29.25% and a net margin of 33.88%.The firm had revenue of $630.58 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 business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, May 15th. Royalty Pharma’s dividend payout ratio is 63.95%.

Analyst Ratings Changes

A number of equities analysts have commented on RPRX shares. UBS Group increased their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Morgan Stanley lifted their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. JPMorgan Chase & Co. upped their target price 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 reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Finally, Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $53.71.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RPRX. Carmignac Gestion purchased a new position in Royalty Pharma during the 1st quarter valued at about $30,279,000. NewEdge Advisors LLC purchased a new stake in shares of Royalty Pharma in the 1st quarter valued at approximately $207,000. Glenmede Trust Co. NA raised its stake in Royalty Pharma by 3.4% in the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 254 shares in the last quarter. Vestor Capital LLC lifted its holdings in Royalty Pharma by 597.4% during the 1st quarter. Vestor Capital LLC now owns 83,688 shares of the biopharmaceutical company’s stock worth $4,014,000 after buying an additional 71,688 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Royalty Pharma by 29.0% during the 1st quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock worth $167,696,000 after acquiring an additional 786,921 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

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.