Royalty Pharma plc (NASDAQ:RPRX) Director Rory B. Riggs Sells 120,000 Shares of Stock

Royalty Pharma plc (NASDAQ:RPRXGet Rating) Director Rory B. Riggs sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $42.33, for a total transaction of $5,079,600.00. Following the completion of the sale, the director now directly owns 156,712 shares in the company, valued at approximately $6,633,618.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $42.92 on Tuesday. The firm’s 50 day simple moving average is $41.73 and its 200 day simple moving average is $41.80. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $26.06 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 1.05 and a beta of 0.34. Royalty Pharma plc has a 1-year low of $36.15 and a 1-year high of $44.75.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Thursday, November 17th. Royalty Pharma’s payout ratio is 90.48%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RPRX shares. StockNews.com started coverage on shares of Royalty Pharma in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Citigroup boosted their price target on shares of Royalty Pharma from $50.00 to $60.00 in a research report on Thursday, July 28th. Morgan Stanley boosted their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, November 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Royalty Pharma from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, October 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.14.

Hedge Funds Weigh In On Royalty Pharma

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its holdings in shares of Royalty Pharma by 53.9% in the 1st quarter. Signaturefd LLC now owns 688 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 241 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Royalty Pharma by 210.8% in the 2nd quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 546 shares during the last quarter. CI Investments Inc. increased its holdings in shares of Royalty Pharma by 79.4% in the 3rd quarter. CI Investments Inc. now owns 965 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 427 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Royalty Pharma in the 3rd quarter worth $39,000. Finally, Newfound Research LLC bought a new position in shares of Royalty Pharma in the 2nd quarter worth $50,000. Institutional investors own 54.94% of the company’s stock.

About Royalty Pharma

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Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.

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Insider Buying and Selling by Quarter for Royalty Pharma (NASDAQ:RPRX)

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