Ra Pharmaceuticals Inc (NASDAQ:RARX)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.04 and last traded at $18.30, with a volume of 9002 shares changing hands. The stock had previously closed at $16.65.
Several equities analysts recently issued reports on RARX shares. BidaskClub raised shares of Ra Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 16th. Credit Suisse Group upped their price objective on shares of Ra Pharmaceuticals from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, August 7th. Raymond James started coverage on shares of Ra Pharmaceuticals in a research note on Thursday, June 28th. They set an “outperform” rating and a $18.00 price objective on the stock. ValuEngine raised shares of Ra Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Finally, Zacks Investment Research raised shares of Ra Pharmaceuticals from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, August 14th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.33.
The company has a market cap of $500.95 million, a PE ratio of -7.59 and a beta of 2.02.
Ra Pharmaceuticals (NASDAQ:RARX) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.01. sell-side analysts expect that Ra Pharmaceuticals Inc will post -2.14 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its position in Ra Pharmaceuticals by 817.8% during the first quarter. Cubist Systematic Strategies LLC now owns 19,999 shares of the company’s stock worth $106,000 after purchasing an additional 17,820 shares during the last quarter. Gabelli Funds LLC acquired a new position in Ra Pharmaceuticals during the second quarter worth approximately $120,000. Dynamic Technology Lab Private Ltd acquired a new position in Ra Pharmaceuticals during the first quarter worth approximately $128,000. Nisa Investment Advisors LLC acquired a new position in Ra Pharmaceuticals during the second quarter worth approximately $157,000. Finally, Schwab Charles Investment Management Inc. increased its position in Ra Pharmaceuticals by 50.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 32,800 shares of the company’s stock worth $175,000 after purchasing an additional 11,000 shares during the last quarter. 72.30% of the stock is owned by hedge funds and other institutional investors.
Ra Pharmaceuticals Company Profile (NASDAQ:RARX)
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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