Ra Pharmaceuticals Inc (NASDAQ:RARX) was the recipient of a significant increase in short interest in the month of December. As of December 29th, there was short interest totalling 1,085,182 shares, an increase of 41.2% from the December 15th total of 768,462 shares. Based on an average daily volume of 175,349 shares, the days-to-cover ratio is currently 6.2 days. Approximately 11.7% of the company’s shares are short sold.
Ra Pharmaceuticals (NASDAQ:RARX) opened at $8.49 on Friday. The stock has a market cap of $194.82, a P/E ratio of -3.44 and a beta of 6.29. Ra Pharmaceuticals has a 1-year low of $7.15 and a 1-year high of $27.84.
Ra Pharmaceuticals (NASDAQ:RARX) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.06). equities research analysts forecast that Ra Pharmaceuticals will post -2.46 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Ra Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Jefferies Group restated a “buy” rating and set a $25.00 price objective on shares of Ra Pharmaceuticals in a report on Thursday, September 28th. Credit Suisse Group boosted their price objective on shares of Ra Pharmaceuticals from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 10th. BMO Capital Markets boosted their price objective on shares of Ra Pharmaceuticals in a report on Tuesday, December 5th. Finally, Royal Bank of Canada restated a “buy” rating and set a $18.00 price objective on shares of Ra Pharmaceuticals in a report on Tuesday, December 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $21.90.
Institutional investors and hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its stake in Ra Pharmaceuticals by 70.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 21,800 shares of the company’s stock valued at $409,000 after buying an additional 9,000 shares in the last quarter. Rhumbline Advisers bought a new position in Ra Pharmaceuticals in the second quarter valued at approximately $241,000. Bank of New York Mellon Corp lifted its stake in Ra Pharmaceuticals by 57.7% in the second quarter. Bank of New York Mellon Corp now owns 37,932 shares of the company’s stock valued at $711,000 after buying an additional 13,881 shares in the last quarter. Swiss National Bank bought a new position in Ra Pharmaceuticals in the second quarter valued at approximately $247,000. Finally, JPMorgan Chase & Co. lifted its stake in Ra Pharmaceuticals by 33.7% in the second quarter. JPMorgan Chase & Co. now owns 199,900 shares of the company’s stock valued at $3,746,000 after buying an additional 50,432 shares in the last quarter. 69.64% of the stock is currently owned by hedge funds and other institutional investors.
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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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