Ra Pharmaceuticals (NASDAQ:RARX) announced its earnings results on Wednesday, March 14th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.03, Bloomberg Earnings reports.
RARX opened at $5.51 on Friday. Ra Pharmaceuticals has a one year low of $4.78 and a one year high of $27.84. The firm has a market capitalization of $180.48, a PE ratio of -2.29 and a beta of 2.31.
Several research analysts have recently commented on the company. Zacks Investment Research lowered Ra Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine lowered Ra Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. BMO Capital Markets reduced their price objective on Ra Pharmaceuticals from $34.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, March 15th. SunTrust Banks reaffirmed a “buy” rating on shares of Ra Pharmaceuticals in a research note on Thursday, March 15th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $16.00 target price on shares of Ra Pharmaceuticals in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $19.50.
In related news, major shareholder Ra Capital Healthcare Fund Lp bought 2,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $15,000,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Enterprise Associates 13 L. New bought 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average price of $6.00 per share, for a total transaction of $12,000,000.00. The disclosure for this purchase can be found here. 14.50% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Ra Pharmaceuticals stock. State Street Corp increased its stake in Ra Pharmaceuticals Inc (NASDAQ:RARX) by 40.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,063 shares of the company’s stock after acquiring an additional 43,376 shares during the quarter. State Street Corp owned approximately 0.67% of Ra Pharmaceuticals worth $2,830,000 at the end of the most recent quarter. Institutional investors own 47.86% of the company’s stock.
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About Ra Pharmaceuticals
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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