Royalty Pharma (NASDAQ:RPRX) EVP Sells $5,652,000.00 in Stock

Key Points

• Royalty Pharma EVP Christopher Hite sold 100,000 shares on June 30 at an average price of $56.52, totaling about $5.65 million. The sale reduced his ownership by 17.88% and was made under a pre-arranged Rule 10b5-1 trading plan.
• Hite also recently sold additional shares, including 30,000 shares on June 30 and 150,000 shares on June 23, bringing his recent insider selling activity to a notable level.
• The stock has been trading near its 12-month high, recently hitting $57.77 versus a 12-month high of $57.80. Royalty Pharma also reported better-than-expected quarterly EPS, paid a quarterly dividend, and carries a consensus analyst rating of “Buy.”

Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) EVP Christopher Hite sold 100,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total value of $5,652,000.00. Following the completion of the sale, the executive vice president owned 459,399 shares of the company's stock, valued at approximately $25,965,231.48. This trade represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Hite also recently made the following trade(s):

• On Tuesday, June 30th, Christopher Hite sold 30,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.46, for a total value of $1,693,800.00.
• On Tuesday, June 23rd, Christopher Hite sold 150,000 shares of Royalty Pharma stock. The shares were sold at an average price of $54.40, for a total transaction of $8,160,000.00.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock traded up $1.99 during midday trading on Thursday, hitting $57.77. The company had a trading volume of 3,227,665 shares, compared to its average volume of 3,705,712. The stock has a market cap of $33.27 billion, a price-to-earnings ratio of 39.30, a PEG ratio of 1.54 and a beta of 0.43. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $53.23 and a 200 day simple moving average of $47.02. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $57.80.

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

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma's payout ratio is 63.95%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RPRX. Morgan Stanley increased their price objective on Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Wall Street Zen upgraded Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. UBS Group increased their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma has a consensus rating of "Buy" and a consensus target price of $53.71.

Institutional Investors Weigh In On Royalty Pharma

Several hedge funds have recently bought and sold shares of the stock. Morgan Stanley raised its position in shares of Royalty Pharma by 25.2% in the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company's stock worth $2,135,790,000 after acquiring an additional 11,110,115 shares during the period. Capital International Investors grew its position in shares of Royalty Pharma by 24.4% during the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company's stock valued at $960,064,000 after acquiring an additional 5,332,074 shares during the period. Norges Bank purchased a new position in shares of Royalty Pharma in the 4th quarter valued at about $131,923,000. Dorsey Asset Management LLC purchased a new position in shares of Royalty Pharma in the 3rd quarter valued at about $82,924,000. Finally, Qube Research & Technologies Ltd raised its holdings in Royalty Pharma by 737.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company's stock worth $87,557,000 after purchasing an additional 2,185,366 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Company Profile

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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