Royalty Pharma (NASDAQ:RPRX) EVP Christopher Hite Sells 100,000 Shares of Company Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the sale, the executive vice president directly owned 270,401 shares in the company, valued at $15,826,570.53. The trade was a 27.00% decrease in their position. The transaction was disclosed in a 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.

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

• On Tuesday, August 18th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The shares were sold at an average price of $59.97, for a total transaction of $5,997,000.00.
• 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 transaction of $5,652,000.00.
• On Tuesday, June 30th, Christopher Hite sold 30,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.46, for a total value of $1,693,800.00.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $58.29 on Friday. Royalty Pharma PLC has a twelve month low of $34.63 and a twelve month high of $64.38. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $33.52 billion, a P/E ratio of 40.20, a PEG ratio of 1.38 and a beta of 0.44. The stock’s 50 day moving average is $59.57 and its 200 day moving average is $54.45.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The business had revenue of $674.14 million during the quarter, compared to analysts’ expectations of $758.93 million. On average, equities research analysts predict that Royalty Pharma PLC will post 5.32 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were paid a $0.2350 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a yield of 1.6%. Royalty Pharma’s payout ratio is presently 64.83%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RPRX. Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. The Goldman Sachs Group reissued a “buy” rating and set a $66.00 price target on shares of Royalty Pharma in a research report on Thursday, August 6th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th. TD Cowen increased their target price on Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Royalty Pharma in a research note on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $61.29.

Institutional Investors Weigh In On Royalty Pharma

A number of large investors have recently added to or reduced their stakes in RPRX. Sequoia Financial Advisors LLC lifted its holdings in shares of Royalty Pharma by 11.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,513 shares of the biopharmaceutical company’s stock valued at $982,000 after buying an additional 1,843 shares during the period. Tidal Investments LLC increased its position in Royalty Pharma by 298.6% during the second quarter. Tidal Investments LLC now owns 118,323 shares of the biopharmaceutical company’s stock valued at $6,634,000 after acquiring an additional 88,642 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Royalty Pharma during the second quarter valued at $1,278,000. Engineers Gate Manager LP lifted its holdings in Royalty Pharma by 141.2% in the second quarter. Engineers Gate Manager LP now owns 137,994 shares of the biopharmaceutical company’s stock valued at $7,737,000 after acquiring an additional 80,771 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its holdings in Royalty Pharma by 14.1% in the second quarter. Integrated Wealth Concepts LLC now owns 15,385 shares of the biopharmaceutical company’s stock valued at $863,000 after acquiring an additional 1,907 shares during the period. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.

Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.