Royalty Pharma PLC (NASDAQ:RPRX – Get Free Report)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $60.52 and last traded at $60.7740, with a volume of 100071 shares trading hands. The stock had previously closed at $59.69.
Analyst Ratings Changes
A number of research analysts have recently issued reports on RPRX shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Royalty Pharma in a report on Wednesday, August 12th. UBS Group lifted their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. TD Cowen increased their target price on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. raised their price target on Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and a consensus price target of $60.86.
View Our Latest Research Report on RPRX
Royalty Pharma Stock Performance
Royalty Pharma (NASDAQ:RPRX – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. The firm had revenue of $674.14 million during the quarter, compared to the consensus estimate of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. As a group, equities research analysts expect that Royalty Pharma PLC will post 5.3 earnings per share for the current year.
Royalty Pharma Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s payout ratio is 64.83%.
Insider Transactions at Royalty Pharma
In related news, CFO Terrance P. Coyne sold 64,399 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the transaction, the executive vice president owned 559,399 shares of the company’s stock, valued at $30,431,305.60. This trade represents a 21.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 362,596 shares of company stock valued at $19,992,538 in the last 90 days. 18.84% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of RPRX. LM Advisors LLC purchased a new stake in Royalty Pharma in the 4th quarter valued at approximately $26,000. Lloyd Advisory Services LLC. acquired a new stake in Royalty Pharma during the 4th quarter valued at $30,000. Private Trust Co. NA increased its position in Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 288 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 437 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Royalty Pharma by 66.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 446 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.
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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