Key Points
- Royalty Pharma CFO Terrance Coyne sold 64,399 shares on May 26 at an average price of $53.98, totaling about $3.48 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The company recently reported Q1 earnings of $1.30 per share, beating analyst expectations of $1.22, though revenue of $630.58 million came in below estimates. Royalty Pharma also maintains a strong market presence with a $31.37 billion market cap and stock trading near its 52-week high.
- Royalty Pharma declared a quarterly dividend of $0.235 per share, payable June 10, equal to an annualized yield of about 1.7%. The stock also has a broadly positive Wall Street outlook, with analysts’ average rating at Buy.
Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) CFO Terrance Coyne sold 64,399 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Royalty Pharma Stock Up 0.9%
Royalty Pharma stock opened at $54.48 on Friday. The stock has a market capitalization of $31.37 billion, a PE ratio of 37.06, a price-to-earnings-growth ratio of 1.48 and a beta of 0.40. Royalty Pharma PLC has a 12 month low of $32.29 and a 12 month high of $54.74. The business has a 50 day simple moving average of $49.69 and a 200-day simple moving average of $44.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.08. The firm had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, analysts anticipate that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.
Royalty Pharma Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. Royalty Pharma's payout ratio is currently 63.95%.
Hedge Funds Weigh In On Royalty Pharma
Several large investors have recently modified their holdings of the business. Morgan Stanley lifted its stake 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 valued at $2,135,790,000 after purchasing an additional 11,110,115 shares during the last quarter. Capital International Investors lifted its stake in shares of Royalty Pharma by 14.3% in the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company's stock valued at $1,201,870,000 after purchasing an additional 3,891,615 shares during the last quarter. State Street Corp lifted its stake in shares of Royalty Pharma by 3.7% in the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company's stock valued at $411,502,000 after purchasing an additional 376,888 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Royalty Pharma by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company's stock valued at $297,465,000 after purchasing an additional 102,430 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Royalty Pharma by 9.7% in the 4th quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company's stock valued at $197,331,000 after purchasing an additional 449,498 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.
Wall Street Analysts Forecast Growth
RPRX has been the topic of a number of recent research reports. Weiss Ratings lowered Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 15th. Citigroup boosted their price objective on Royalty Pharma from $50.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Morgan Stanley boosted their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. TD Cowen reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Royalty Pharma from $50.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $53.71.
Check Out Our Latest Analysis on RPRX
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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