Key Points
- Royalty Pharma EVP Christopher Hite sold 100,000 shares at an average price of $59.97, generating approximately $6.0 million. The Rule 10b5-1 transaction reduced his direct holdings by 21.26% to 370,401 shares.
- Royalty Pharma reported quarterly EPS of $1.32, exceeding estimates of $1.27, although revenue of $674.14 million fell short of the $758.93 million consensus forecast.
- The company declared a quarterly dividend of $0.235 per share, or $0.94 annualized, representing a 1.5% yield. Analysts maintain a consensus “Buy” rating with an average price target of $60.86.
Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) EVP Christopher Hite sold 100,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total value of $5,997,000.00. Following the completion of the transaction, the executive vice president directly owned 370,401 shares in the company, valued at approximately $22,212,947.97. This trade represents a 21.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, June 30th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.52, for a total value of $5,652,000.00.
- On Tuesday, June 30th, Christopher Hite sold 30,000 shares of Royalty Pharma stock. The shares were sold at an average price of $56.46, for a total value of $1,693,800.00.
- On Tuesday, June 23rd, Christopher Hite sold 150,000 shares of Royalty Pharma stock. The shares were sold at an average price of $54.40, for a total value of $8,160,000.00.
Royalty Pharma Trading Up 3.4%
NASDAQ:RPRX opened at $61.73 on Thursday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 1-year low of $34.08 and a 1-year high of $61.80. The firm has a market capitalization of $35.49 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 1.39 and a beta of 0.43. The business's 50-day moving average price is $57.13 and its two-hundred day moving average price is $51.61.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. The company had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. On average, equities analysts expect that Royalty Pharma PLC will post 5.3 earnings per share for the current year.
Royalty Pharma Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma's dividend payout ratio is presently 64.83%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. LM Advisors LLC acquired a new stake in Royalty Pharma in the 4th quarter valued at approximately $26,000. Lloyd Advisory Services LLC. acquired a new position in Royalty Pharma during the 4th quarter worth approximately $30,000. Private Trust Co. NA grew its stake in shares of Royalty Pharma by 52.9% during the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 288 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Royalty Pharma by 173.4% during the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 437 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Royalty Pharma by 66.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company's stock valued at $43,000 after purchasing an additional 446 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Royalty Pharma in a research report on Wednesday, August 12th. Morgan Stanley restated an "overweight" rating and issued a $65.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. Wall Street Zen downgraded Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lifted their target price on Royalty Pharma from $58.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, Citigroup lifted their target price on Royalty Pharma from $50.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma currently has a consensus rating of "Buy" and a consensus target price of $60.86.
Get Our Latest Report on RPRX
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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