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