Terrance Coyne Sells 108,424 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 108,424 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $42.08, for a total transaction of $4,562,481.92. Following the completion of the transaction, the chief financial officer directly owned 30,167 shares in the company, valued at $1,269,427.36. This represents a 78.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock traded up $0.71 on Wednesday, reaching $43.68. 5,153,969 shares of the company were exchanged, compared to its average volume of 3,889,447. The firm has a market cap of $25.21 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 1.62 and a beta of 0.42. Royalty Pharma PLC has a 1-year low of $29.66 and a 1-year high of $43.76. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The company’s 50-day moving average is $39.66 and its two-hundred day moving average is $37.85.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The firm had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%. As a group, research analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 20th will be given a $0.235 dividend. The ex-dividend date is Friday, February 20th. This represents a $0.94 annualized dividend and a yield of 2.2%. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s payout ratio is 66.67%.

Institutional Trading of Royalty Pharma

Hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB grew its holdings in shares of Royalty Pharma by 603.9% during the 2nd quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock valued at $23,701,000 after acquiring an additional 562,799 shares in the last quarter. Watchtower Advisors LP bought a new stake in Royalty Pharma in the second quarter worth approximately $3,603,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Royalty Pharma during the 3rd quarter worth $933,000. World Investment Advisors bought a new position in shares of Royalty Pharma during the 3rd quarter valued at $1,702,000. Finally, Generali Asset Management SPA SGR lifted its stake in shares of Royalty Pharma by 7,752.8% in the 3rd quarter. Generali Asset Management SPA SGR now owns 34,081 shares of the biopharmaceutical company’s stock valued at $1,202,000 after purchasing an additional 33,647 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RPRX has been the topic of a number of research analyst reports. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a report on Thursday, December 11th. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Morgan Stanley decreased their target price on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Leerink Partners set a $45.00 target price on Royalty Pharma in a report on Thursday, December 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Royalty Pharma in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

About Royalty Pharma

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.