Royalty Pharma (NASDAQ:RPRX) Sets New 1-Year High – Here’s What Happened

Royalty Pharma PLC (NASDAQ:RPRXGet Free Report)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $45.16 and last traded at $45.0650, with a volume of 1977195 shares changing hands. The stock had previously closed at $44.21.

Royalty Pharma News Roundup

Here are the key news stories impacting Royalty Pharma this week:

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. UBS Group upgraded shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Friday, January 30th. Citigroup boosted their price target on Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Royalty Pharma in a research note on Thursday, January 22nd. Finally, Leerink Partners set a $45.00 target price on Royalty Pharma in a research note on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

View Our Latest Stock Analysis on Royalty Pharma

Royalty Pharma Stock Performance

The stock’s 50-day moving average is $40.09 and its 200 day moving average is $38.12. The stock has a market cap of $25.61 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.68 and a beta of 0.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 20th will be paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, February 20th. Royalty Pharma’s dividend payout ratio (DPR) is presently 66.67%.

Insiders Place Their Bets

In other news, CFO Terrance P. Coyne sold 114,954 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $42.84, for a total transaction of $4,924,629.36. Following the transaction, the chief financial officer directly owned 23,972 shares of the company’s stock, valued at $1,026,960.48. This represents a 82.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP George W. Lloyd sold 132,426 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $38.34, for a total transaction of $5,077,212.84. The SEC filing for this sale provides additional information. Insiders have sold 1,309,216 shares of company stock worth $52,015,364 in the last ninety days. 18.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPRX. Nordea Investment Management AB increased its position in shares of Royalty Pharma by 603.9% in the second quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock valued at $23,701,000 after buying an additional 562,799 shares in the last quarter. Watchtower Advisors LP purchased a new stake in shares of Royalty Pharma in the 2nd quarter worth about $3,603,000. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Royalty Pharma in the 3rd quarter valued at about $933,000. World Investment Advisors purchased a new position in Royalty Pharma during the 3rd quarter valued at about $1,702,000. Finally, Generali Asset Management SPA SGR increased its holdings in Royalty Pharma by 7,752.8% during 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 acquiring an additional 33,647 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Company Profile

(Get Free Report)

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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