Fred Alger Management Inc. reduced its stake in Ra Pharmaceuticals Inc (NASDAQ:RARX) by 43.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,000 shares of the company’s stock after selling 13,000 shares during the quarter. Fred Alger Management Inc. owned about 0.08% of Ra Pharmaceuticals worth $145,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Ra Pharmaceuticals by 47.9% in the 4th quarter. BlackRock Inc. now owns 952,580 shares of the company’s stock worth $8,097,000 after purchasing an additional 308,452 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Ra Pharmaceuticals by 30.2% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 151,000 shares of the company’s stock worth $1,284,000 after purchasing an additional 35,000 shares in the last quarter. Sectoral Asset Management Inc boosted its position in shares of Ra Pharmaceuticals by 55.6% in the 3rd quarter. Sectoral Asset Management Inc now owns 278,082 shares of the company’s stock worth $4,060,000 after purchasing an additional 99,332 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Ra Pharmaceuticals by 166.2% in the 3rd quarter. Wells Fargo & Company MN now owns 23,842 shares of the company’s stock worth $348,000 after purchasing an additional 14,885 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Ra Pharmaceuticals in the 3rd quarter worth approximately $4,664,000. 49.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the company. BMO Capital Markets dropped their price target on Ra Pharmaceuticals from $34.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday. SunTrust Banks reissued a “buy” rating on shares of Ra Pharmaceuticals in a research report on Thursday. Zacks Investment Research raised Ra Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Wednesday, January 10th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Ra Pharmaceuticals in a research report on Tuesday, December 5th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Ra Pharmaceuticals in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $19.50.
Ra Pharmaceuticals Inc (NASDAQ RARX) opened at $6.88 on Friday. Ra Pharmaceuticals Inc has a 12-month low of $5.80 and a 12-month high of $27.84.
Ra Pharmaceuticals (NASDAQ:RARX) last released its quarterly earnings data on Wednesday, March 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.03.
In related news, major shareholder Enterprise Associates 13 L. New bought 2,000,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was acquired at an average cost of $6.00 per share, for a total transaction of $12,000,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Ra Capital Healthcare Fund Lp bought 2,500,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average price of $6.00 per share, with a total value of $15,000,000.00. The disclosure for this purchase can be found here. Corporate insiders own 14.50% of the company’s stock.
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Ra Pharmaceuticals Profile
Ra Pharmaceuticals, Inc is a United States-based clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutics for diseases of complement dysregulation and a range of orphan indications. It utilizes small molecules and peptide approaches to address pathological targets in the complement cascade.
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