Key Points
- Royalty Pharma EVP Marshall Urist sold 13,684 shares on May 14 at an average price of $53.06, totaling about $726,073. After the sale, he retained 31,881 shares, a 30.03% reduction in his position.
- The stock was down 1.0% and recently traded near its 52-week high, opening at $52.85 versus a 12-month high of $53.47. Royalty Pharma also reported first-quarter EPS of $1.30, beating estimates, though revenue came in below expectations.
- Royalty Pharma announced a quarterly dividend of $0.235 per share, payable June 10, implying a 1.8% annualized yield. Meanwhile, analysts remain broadly positive, with multiple firms raising price targets and the stock carrying an average Buy rating.
Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) Director Gregory Norden sold 3,045 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the transaction, the director owned 191,803 shares in the company, valued at $10,165,559. This represents a 1.56% decrease in their ownership of the stock. The sale 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 Price Performance
Shares of RPRX stock opened at $52.85 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $30.43 billion, a P/E ratio of 35.95, a P/E/G ratio of 1.47 and a beta of 0.40. The company's 50-day simple moving average is $48.31 and its two-hundred day simple moving average is $43.35. Royalty Pharma PLC has a one year low of $32.15 and a one year high of $53.47.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.08. The business had revenue of $631.00 million for the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. As a group, equities analysts anticipate that Royalty Pharma PLC will post 5.05 EPS for the current year.
Royalty Pharma Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma's dividend payout ratio is presently 63.95%.
Wall Street Analysts Forecast Growth
RPRX has been the subject of several research reports. UBS Group upped their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. TD Cowen reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday, February 27th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Thursday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised shares of Royalty Pharma from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $53.71.
View Our Latest Stock Analysis on RPRX
Institutional Investors Weigh In On Royalty Pharma
Several hedge funds have recently modified their holdings of RPRX. Morgan Stanley lifted its position in shares of Royalty Pharma by 25.2% in the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company's stock worth $2,135,790,000 after purchasing an additional 11,110,115 shares during the period. Capital International Investors raised its stake in shares of Royalty Pharma by 24.4% during the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company's stock worth $960,064,000 after acquiring an additional 5,332,074 shares in the last quarter. Norges Bank bought a new position in shares of Royalty Pharma during the 4th quarter worth approximately $131,923,000. Dorsey Asset Management LLC bought a new position in shares of Royalty Pharma during the 3rd quarter worth approximately $82,924,000. Finally, Qube Research & Technologies Ltd raised its stake in shares of Royalty Pharma by 737.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company's stock worth $87,557,000 after acquiring an additional 2,185,366 shares in the last quarter. 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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
