Ra Pharmaceuticals (NASDAQ:RARX) had its price objective upped by research analysts at SunTrust Banks to $35.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the stock. SunTrust Banks’ target price would suggest a potential upside of 105.16% from the stock’s previous close. SunTrust Banks also issued estimates for Ra Pharmaceuticals’ FY2022 earnings at ($1.53) EPS.
A number of other brokerages have also recently issued reports on RARX. ValuEngine raised shares of Ra Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. BMO Capital Markets set a $34.00 target price on shares of Ra Pharmaceuticals and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group boosted their target price on shares of Ra Pharmaceuticals to $40.00 and gave the company a “positive” rating in a research report on Monday. Zacks Investment Research cut shares of Ra Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Credit Suisse Group set a $25.00 price target on Ra Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, October 19th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.00.
Shares of Ra Pharmaceuticals stock opened at $17.06 on Tuesday. The stock has a market capitalization of $515.45 million, a PE ratio of -7.08 and a beta of 2.11. Ra Pharmaceuticals has a 52-week low of $4.78 and a 52-week high of $19.80.
Ra Pharmaceuticals (NASDAQ:RARX) last announced its earnings results on Wednesday, November 7th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.02). On average, sell-side analysts forecast that Ra Pharmaceuticals will post -2.11 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC acquired a new position in Ra Pharmaceuticals in the second quarter valued at about $120,000. Bank of America Corp DE raised its stake in Ra Pharmaceuticals by 513.2% in the second quarter. Bank of America Corp DE now owns 43,436 shares of the company’s stock valued at $432,000 after purchasing an additional 36,352 shares in the last quarter. Alps Advisors Inc. raised its stake in Ra Pharmaceuticals by 12.6% in the second quarter. Alps Advisors Inc. now owns 46,853 shares of the company’s stock valued at $466,000 after purchasing an additional 5,241 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in Ra Pharmaceuticals in the third quarter valued at about $623,000. Finally, FMR LLC acquired a new position in Ra Pharmaceuticals in the second quarter valued at about $807,000. 74.74% of the stock is owned by institutional investors and hedge funds.
About Ra Pharmaceuticals
Ra Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapeutics for the treatment of diseases caused by excessive or uncontrolled activation of the complement system in the United States. The company's peptide chemistry platform enables the production of synthetic macrocyclic peptides that combine the diversity and specificity of antibodies with the pharmacological properties of small molecules.
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