Insider Selling: Royalty Pharma plc (NASDAQ: RPRX) Director Sells 47,975 Shares

Royalty Pharma plc (NASDAQ:RPRX – Get Rating) director Rory B. Riggs sold 47,975 shares of the company in a trade dated Wednesday, September 14. The shares were sold at an average price of $42.41, for a total transaction of $2,034,619.75. Following the transaction, the administrator now owns 328,737 shares of the company, valued at approximately $13,941,736.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link.

Royalty Pharma shares fall 0.6%

Royalty Pharma’s stock traded down $0.27 at midday Thursday, hitting $42.17. 1,864,189 shares of the company were traded, with an average volume of 1,945,412. The company’s fifty-day moving average price is $43.12 and its 200-day moving average price is $41.39 . The company has a market capitalization of $25.61 billion, a PE ratio of 55.12, a growth price-earnings ratio of 1.14 and a beta of 0.30. The company has a debt ratio of 0.68, a current ratio of 19.22 and a quick ratio of 19.22. Royalty Pharma plc has a fifty-two week low of $34.86 and a fifty-two week high of $44.75.

Royalty Pharma dividend announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Friday, August 19 will receive a dividend of $0.19. This represents a dividend of $0.76 on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Thursday, August 18. Royalty Pharma’s payout rate is 98.70%.

Analyst upgrades and downgrades

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Stock with strong tailwind

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RPRX has been the subject of several analyst reports. Morgan Stanley raised its price target on Royalty Pharma shares from $48.00 to $51.00 and gave the company an “overweight” rating in a Monday, Aug. 8 research report. Citigroup raised its price target on Royalty Pharma shares from $50.00 to $60.00 in a Thursday, July 28 research note. UBS Group launched a hedge on Royalty Pharma shares in a Monday, June 13 research note. They set a “buy” rating and a target price of $47.00 on the stock. Finally, Tigress Financial raised its price target on Royalty Pharma from $52.00 to $57.00 and gave the stock a “buy” rating in a Thursday, July 14 research report. One analyst gave the stock a hold rating and seven gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.43.

Institutional entries and exits

Hedge funds and other institutional investors have recently changed their stakes in the company. Signaturefd LLC increased its stake in Royalty Pharma by 53.9% in the 1st quarter. Signaturefd LLC now owns 688 shares of the biopharmaceutical company valued at $27,000 after purchasing an additional 241 shares during the period. Captrust Financial Advisors increased its stake in Royalty Pharma by 210.8% in the second quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company valued at $34,000 after buying an additional 546 shares during the period. Newfound Research LLC acquired a new position in Royalty Pharma during Q2 worth approximately $50,000. PNC Financial Services Group Inc. increased its stake in Royalty Pharma by 54.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the biopharmaceutical company valued at $133,000 after purchasing an additional 1,208 shares during the period. Finally, Gladius Capital Management LP acquired a new position in Royalty Pharma during Q1 worth approximately $143,000. 54.94% of the shares are held by institutional investors and hedge funds.

Royal Pharma Company Profile

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Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and funder of innovations in the biopharmaceutical industry in the United States. She is also involved in the identification, evaluation and acquisition of royalties on various biopharmaceutical therapies. Additionally, the company collaborates with innovators from academic institutions, research hospitals and non-profit organizations, small and medium-sized biotech companies and pharmaceutical companies.

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Insider buying and selling by quarter for Royalty Pharma (NASDAQ:RPRX)

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