Terrance Coyne Sells 69,582 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,582 shares of Royalty Pharma stock in a transaction on Monday, December 15th. The shares were sold at an average price of $38.36, for a total transaction of $2,669,165.52. Following the sale, the chief financial officer directly owned 43,510 shares of the company’s stock, valued at $1,669,043.60. This trade represents a 61.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Royalty Pharma Stock Down 0.2%

NASDAQ RPRX traded down $0.07 on Wednesday, reaching $38.31. The stock had a trading volume of 2,251,085 shares, compared to its average volume of 4,333,543. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.89. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $41.24. The business has a 50 day moving average price of $38.21 and a 200 day moving average price of $36.68. The company has a market capitalization of $22.11 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 2.03 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.11 by $0.06. The business had revenue of $609.29 million during the quarter, compared to analysts’ expectations of $765.01 million. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%. On average, analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, November 14th. Royalty Pharma’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RPRX shares. Leerink Partners set a $45.00 price target on shares of Royalty Pharma in a research report on Thursday, December 11th. The Goldman Sachs Group assumed coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price target for the company. TD Cowen boosted their price objective on Royalty Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Weiss Ratings downgraded Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Royalty Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $45.60.

Hedge Funds Weigh In On Royalty Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in RPRX. CWM LLC increased its stake in Royalty Pharma by 1.5% in the third quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock valued at $656,000 after acquiring an additional 281 shares during the period. Augustine Asset Management Inc. lifted its position in shares of Royalty Pharma by 4.4% during the 2nd quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company’s stock worth $242,000 after buying an additional 283 shares during the period. GAMMA Investing LLC boosted its stake in Royalty Pharma by 9.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 289 shares in the last quarter. Hudson Bay Capital Management LP raised its stake in Royalty Pharma by 1.0% during the third quarter. Hudson Bay Capital Management LP now owns 29,384 shares of the biopharmaceutical company’s stock worth $1,037,000 after acquiring an additional 289 shares in the last quarter. Finally, Merit Financial Group LLC boosted its stake in shares of Royalty Pharma by 3.5% in the 3rd quarter. Merit Financial Group LLC now owns 9,149 shares of the biopharmaceutical company’s stock valued at $323,000 after purchasing an additional 306 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.