Insider Selling: Royalty Pharma (NASDAQ:RPRX) EVP Sells $235,594.60 in Stock

Key Points

• Royalty Pharma EVP Marshall Urist sold 4,126 shares at an average price of $57.10, totaling $235,594.60, under a pre-arranged Rule 10b5-1 trading plan. He also sold the same number of shares the prior week for $238,812.88.
• Royalty Pharma shares fell 0.9% to $56.66, while the company reported quarterly earnings of $1.32 per share, exceeding analysts’ $1.27 estimate, despite revenue coming in below consensus.
• The company pays a quarterly dividend of $0.235 per share, or $0.94 annually, representing a 1.7% yield; analysts maintain an average “Buy” rating with a $61.29 price target.

Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) EVP Marshall Urist sold 4,126 shares of the firm's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $57.10, for a total value of $235,594.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 28th, Marshall Urist sold 4,126 shares of Royalty Pharma stock. The stock was sold at an average price of $57.88, for a total value of $238,812.88.

Royalty Pharma Stock Down 0.9%

Shares of NASDAQ RPRX traded down $0.50 during trading hours on Monday, hitting $56.66. The company had a trading volume of 3,958,012 shares, compared to its average volume of 3,439,495. Royalty Pharma PLC has a 1-year low of $35.23 and a 1-year high of $64.38. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The firm's 50 day moving average is $59.52 and its 200-day moving average is $54.96. The stock has a market capitalization of $32.58 billion, a P/E ratio of 39.08, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. The business had revenue of $674.14 million for the quarter, compared to the consensus estimate of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. On average, analysts expect that Royalty Pharma PLC will post 5.32 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were paid a dividend of $0.2350 per share. The ex-dividend date was Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.7%. Royalty Pharma's payout ratio is currently 64.83%.

Institutional Trading of Royalty Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of RPRX. Capital International Investors boosted its stake in shares of Royalty Pharma by 14.3% in the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company's stock valued at $1,201,870,000 after buying an additional 3,891,615 shares during the period. Bank of America Corp DE raised its holdings in Royalty Pharma by 29.0% in the 1st quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company's stock valued at $167,696,000 after acquiring an additional 786,921 shares in the last quarter. Amundi raised its holdings in Royalty Pharma by 15.3% in the 1st quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company's stock valued at $148,168,000 after acquiring an additional 409,394 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Royalty Pharma by 0.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,313,265 shares of the biopharmaceutical company's stock valued at $128,025,000 after acquiring an additional 31,091 shares during the period. Finally, Dorsey Asset Management LLC lifted its position in Royalty Pharma by 0.8% during the first quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company's stock worth $109,207,000 after purchasing an additional 17,101 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RPRX shares. Weiss Ratings upgraded Royalty Pharma from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, September 14th. TD Cowen increased their price objective on shares of Royalty Pharma from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. JPMorgan Chase & Co. lifted their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Bank of America restated a "buy" rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $66.00 target price on shares of Royalty Pharma in a research note on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $61.29.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty acquisition company that provides funding to life sciences companies in exchange for rights to future payments associated with approved or development-stage medicines. Its business model gives biotechnology and pharmaceutical companies access to capital while allowing Royalty Pharma to participate in the commercial success of therapies without directly developing or marketing them.

The company invests in royalties and other economic interests tied to a broad range of biopharmaceutical products, including treatments for cancer, rare diseases, immune disorders, diabetes and other chronic conditions.

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