Royalty Pharma (NASDAQ:RPRX) EVP Sells 9,098 Shares

by · The Markets Daily

Royalty Pharma PLC (NASDAQ:RPRXGet Free Report) EVP Marshall Urist sold 9,098 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $55.18, for a total transaction of $502,027.64. Following the transaction, the executive vice president directly owned 9,099 shares in the company, valued at approximately $502,082.82. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marshall Urist also recently made the following trade(s):

  • On Wednesday, May 20th, Marshall Urist sold 13,684 shares of Royalty Pharma stock. The stock was sold at an average price of $52.75, for a total transaction of $721,831.00.
  • On Thursday, May 14th, Marshall Urist sold 13,684 shares of Royalty Pharma stock. The shares were sold at an average price of $53.06, for a total transaction of $726,073.04.

Royalty Pharma Trading Up 0.8%

Shares of NASDAQ:RPRX traded up $0.41 on Thursday, reaching $54.69. 2,461,173 shares of the company traded hands, compared to its average volume of 3,711,937. The business’s 50-day simple moving average is $52.54 and its 200 day simple moving average is $46.42. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $56.50. The stock has a market capitalization of $31.49 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 1.52 and a beta of 0.43. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The firm had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. As a group, equities analysts anticipate that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 15th. Royalty Pharma’s payout ratio is 63.95%.

Institutional Trading of Royalty Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Phillips Wealth Planners LLC increased its position in Royalty Pharma by 1.9% during the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock valued at $521,000 after purchasing an additional 242 shares during the period. Strs Ohio lifted its holdings in Royalty Pharma by 2.8% in the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 252 shares during the period. Glenmede Trust Co. NA boosted its position in Royalty Pharma by 3.4% during the 1st quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock valued at $375,000 after acquiring an additional 254 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Royalty Pharma by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after acquiring an additional 255 shares during the period. Finally, Cary Street Partners Financial LLC grew its holdings in shares of Royalty Pharma by 1.1% during the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after acquiring an additional 260 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RPRX. Citigroup increased their price objective on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley upped their price target on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. raised their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and an average target price of $53.71.

Read Our Latest Report on Royalty Pharma

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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