Key Points
- CFO Terrance Coyne sold 34,791 shares on March 23 at an average of $45.53 for $1,584,034.23, cutting his stake by 44.22% to 43,886 shares (worth about $2.0M).
- Royalty Pharma beat EPS expectations ($1.46 vs. $1.33) but missed revenue estimates ($622M vs. $840M), raised its quarterly dividend to $0.235 (annualized $0.94, ~2.0% yield), and carries an analyst consensus of "Buy" with an average price target of $48.67.
Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) CFO Terrance Coyne sold 34,791 shares of Royalty Pharma stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $45.53, for a total transaction of $1,584,034.23. Following the transaction, the chief financial officer directly owned 43,886 shares of the company's stock, valued at approximately $1,998,129.58. This trade represents a 44.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Royalty Pharma Trading Up 3.2%
NASDAQ:RPRX opened at $47.03 on Thursday. The firm has a market capitalization of $27.13 billion, a P/E ratio of 34.84 and a beta of 0.40. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40. Royalty Pharma PLC has a one year low of $29.66 and a one year high of $47.86. The company's 50-day simple moving average is $44.14 and its 200 day simple moving average is $40.11.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.13. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. The business had revenue of $621.99 million during the quarter, compared to the consensus estimate of $839.97 million. As a group, analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.
Royalty Pharma Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 20th were given a dividend of $0.235 per share. This is a boost from Royalty Pharma's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.94 dividend on an annualized basis and a yield of 2.0%. Royalty Pharma's dividend payout ratio is 69.63%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. UBS Group upgraded shares of Royalty Pharma from a "neutral" rating to a "buy" rating and set a $49.00 price target on the stock in a research note on Friday, January 30th. TD Cowen restated a "buy" rating on shares of Royalty Pharma in a research note on Friday, February 27th. The Goldman Sachs Group reiterated a "buy" rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Morgan Stanley reiterated an "overweight" rating and set a $61.00 price target on shares of Royalty Pharma in a report on Thursday, February 12th. Finally, Weiss Ratings raised shares of Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Royalty Pharma currently has an average rating of "Buy" and an average price target of $48.67.
View Our Latest Analysis on Royalty Pharma
Hedge Funds Weigh In On Royalty Pharma
A number of hedge funds have recently bought and sold shares of the business. LM Advisors LLC bought a new position in Royalty Pharma during the 4th quarter valued at about $26,000. Lloyd Advisory Services LLC. bought a new stake in shares of Royalty Pharma in the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its stake in shares of Royalty Pharma by 868.1% in the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 790 shares during the period. Private Trust Co. NA raised its holdings in shares of Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new position in shares of Royalty Pharma during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 54.35% of the company's stock.
About Royalty Pharma
(
Get Free Report)
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.
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