Key Points
- CFO Terrance Coyne sold 34,791 shares of Royalty Pharma at an average price of $48.33 on April 1 for about $1.68M under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 51.38% to 32,916 shares.
- Royalty Pharma beat on EPS ($1.46 vs. $1.33 consensus) but missed on revenue ($622M), and it recently raised its quarterly dividend to $0.235 (annualized $0.94, yield ~1.9%).
- Analysts mostly rate RPRX a Buy with an average price target around $48.67; the stock trades near its 52-week high (~$49.06) and the company has a market cap of roughly $28.0B.
Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) CFO Terrance Coyne sold 34,791 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $48.33, for a total transaction of $1,681,449.03. Following the completion of the transaction, the chief financial officer owned 32,916 shares in the company, valued at approximately $1,590,830.28. This trade represents a 51.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Royalty Pharma Stock Performance
NASDAQ RPRX opened at $48.57 on Friday. The firm has a market cap of $28.02 billion, a price-to-earnings ratio of 35.98 and a beta of 0.39. The company has a 50 day moving average of $45.07 and a 200-day moving average of $40.54. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 1-year low of $29.66 and a 1-year high of $49.06.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. The business had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. On average, equities analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.
Royalty Pharma Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were paid a $0.235 dividend. This is an increase from Royalty Pharma's previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, February 20th. Royalty Pharma's payout ratio is presently 69.63%.
Institutional Trading of Royalty Pharma
Several institutional investors and hedge funds have recently made changes to their positions in RPRX. Financiere des Professionnels Fonds d investissement inc. bought a new position in Royalty Pharma during the third quarter worth about $933,000. Nordea Investment Management AB raised its position in shares of Royalty Pharma by 18.3% in the 3rd quarter. Nordea Investment Management AB now owns 775,999 shares of the biopharmaceutical company's stock valued at $27,137,000 after acquiring an additional 120,004 shares during the period. World Investment Advisors acquired a new stake in shares of Royalty Pharma in the 3rd quarter valued at approximately $1,702,000. Generali Asset Management SPA SGR boosted its stake in Royalty Pharma by 7,752.8% during the 3rd quarter. Generali Asset Management SPA SGR now owns 34,081 shares of the biopharmaceutical company's stock worth $1,202,000 after acquiring an additional 33,647 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Royalty Pharma by 28.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 140,131 shares of the biopharmaceutical company's stock valued at $4,944,000 after purchasing an additional 31,045 shares during the period. Institutional investors own 54.35% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on RPRX shares. Morgan Stanley restated an "overweight" rating and issued a $61.00 target price on shares of Royalty Pharma in a research note on Thursday, February 12th. Weiss Ratings raised shares of Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 12th. Citigroup raised their price objective on shares of Royalty Pharma from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, January 27th. Wall Street Zen downgraded shares of Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 14th. Finally, UBS Group upgraded shares of Royalty Pharma from a "neutral" rating to a "buy" rating and set a $49.00 target price on the stock in a research report on Friday, January 30th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $48.67.
Read Our Latest Stock Report on Royalty Pharma
Royalty Pharma Company Profile
(
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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