Royalty Pharma PLC (NASDAQ:RPRX – Get Free Report) EVP Marshall Urist sold 9,098 shares of Royalty Pharma stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $55.18, for a total value of $502,027.64. Following the completion of the sale, the executive vice president directly owned 9,099 shares in the company, valued at approximately $502,082.82. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 Wednesday, May 20th, Marshall Urist sold 13,684 shares of Royalty Pharma stock. The stock was sold at an average price of $52.75, for a total value of $721,831.00.
- On Thursday, May 14th, Marshall Urist sold 13,684 shares of Royalty Pharma stock. The stock was sold at an average price of $53.06, for a total transaction of $726,073.04.
Royalty Pharma Price Performance
NASDAQ RPRX opened at $54.69 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $56.50. The company has a market capitalization of $31.49 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 1.49 and a beta of 0.43. The firm’s 50 day moving average is $52.66 and its 200-day moving average is $46.52.
Royalty Pharma Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 15th. Royalty Pharma’s dividend payout ratio is presently 63.95%.
Institutional Trading of Royalty Pharma
Several institutional investors and hedge funds have recently bought and sold shares of RPRX. Phillips Wealth Planners LLC increased its holdings in shares of Royalty Pharma by 1.9% during the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after acquiring an additional 242 shares during the last quarter. Strs Ohio raised its stake in Royalty Pharma by 2.8% in the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 252 shares during the period. Glenmede Trust Co. NA lifted its holdings 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 valued at $375,000 after purchasing an additional 254 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Royalty Pharma by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after purchasing an additional 255 shares during the period. Finally, Cary Street Partners Financial LLC boosted its position in Royalty Pharma by 1.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after purchasing an additional 260 shares during the period. Institutional investors own 54.35% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. 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. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. UBS Group boosted their target price 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. Finally, Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and a consensus target price of $53.71.
Read Our Latest Report on Royalty Pharma
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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