Insider Selling: Royalty Pharma (NASDAQ:RPRX) EVP Sells $5,853,000.00 in Stock

Key Points

• Royalty Pharma EVP Christopher Hite sold 100,000 shares for approximately $5.85 million, reducing his direct stake by 27% to 270,401 shares. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
• RPRX shares rose 1.1% to $58.29, while analysts maintained a broadly positive outlook: eight analysts rate the stock “Buy,” with a consensus price target of $61.29.
• Royalty Pharma reported quarterly EPS of $1.32, exceeding expectations, and pays a quarterly dividend of $0.235 per share, equivalent to a 1.6% yield.

Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) EVP Christopher Hite sold 100,000 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the completion of the sale, the executive vice president directly owned 270,401 shares of the company's stock, valued at $15,826,570.53. The trade was a 27.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, August 18th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The stock was sold at an average price of $59.97, for a total transaction of $5,997,000.00.
• 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.

Royalty Pharma Stock Up 1.1%

NASDAQ:RPRX traded up $0.64 during mid-day trading on Thursday, reaching $58.29. The stock had a trading volume of 2,019,004 shares, compared to its average volume of 3,463,290. The company has a market capitalization of $33.52 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth ratio of 1.38 and a beta of 0.44. Royalty Pharma PLC has a 1-year low of $34.63 and a 1-year high of $64.38. The stock's 50 day simple moving average is $59.57 and its two-hundred day simple moving average is $54.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. The business had revenue of $674.14 million during 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%. Equities analysts anticipate that Royalty Pharma PLC will post 5.32 EPS for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were paid a $0.2350 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 14th. Royalty Pharma's dividend payout ratio is currently 64.83%.

Analyst Upgrades and Downgrades

RPRX has been the topic of several research reports. Weiss Ratings raised Royalty Pharma from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, September 14th. The Goldman Sachs Group reissued a "buy" rating and set a $66.00 price objective on shares of Royalty Pharma in a research note on Thursday, August 6th. 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. Wall Street Zen raised Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 12th. Finally, Bank of America reaffirmed a "buy" rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $61.29.

Institutional Investors Weigh In On Royalty Pharma

A number of large investors have recently added to or reduced their stakes in the stock. Phillips Wealth Planners LLC boosted its stake in shares of Royalty Pharma by 1.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company's stock valued at $521,000 after buying an additional 242 shares during the period. Glenmede Trust Co. NA increased its stake 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 worth $375,000 after acquiring an additional 254 shares during the period. Cary Street Partners Financial LLC raised its holdings in Royalty Pharma by 1.1% in the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company's stock valued at $943,000 after acquiring an additional 260 shares in the last quarter. Bessemer Group Inc. raised its holdings in Royalty Pharma by 34.7% in the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 282 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of Royalty Pharma by 89.2% during the 2nd quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 413 shares during the period. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.

Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.

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