Ra Pharmaceuticals (RARX) Earns Buy Rating from Analysts at Stifel Nicolaus
Stifel Nicolaus started coverage on shares of Ra Pharmaceuticals (NASDAQ:RARX) in a research report report published on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $55.00 target price on the stock.
Several other brokerages also recently issued reports on RARX. SunTrust Banks increased their price objective on shares of Ra Pharmaceuticals to $35.00 and gave the stock a buy rating in a research report on Tuesday, December 11th. BidaskClub upgraded shares of Ra Pharmaceuticals from a hold rating to a buy rating in a report on Friday, October 19th. ValuEngine upgraded shares of Ra Pharmaceuticals from a hold rating to a buy rating in a report on Monday, October 22nd. Credit Suisse Group set a $25.00 target price on shares of Ra Pharmaceuticals and gave the stock a buy rating in a report on Friday, October 19th. Finally, BMO Capital Markets set a $34.00 target price on shares of Ra Pharmaceuticals and gave the stock a buy rating in a report on Monday, December 10th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $32.71.
Shares of RARX stock opened at $19.44 on Friday. Ra Pharmaceuticals has a 12-month low of $4.78 and a 12-month high of $23.90. The firm has a market cap of $629.86 million, a PE ratio of -8.07 and a beta of 0.90.
In other news, major shareholder Enterprise Associates 13 L. New purchased 645,161 shares of the business’s stock in a transaction on Friday, December 14th. The stock was purchased at an average price of $15.50 per share, for a total transaction of $9,999,995.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rajeev M. Shah purchased 1,006,452 shares of the business’s stock in a transaction on Friday, December 14th. The stock was purchased at an average price of $15.50 per share, with a total value of $15,600,006.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,658,065 shares of company stock valued at $41,200,008. Corporate insiders own 11.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Ra Pharmaceuticals by 19.4% in the third quarter. JPMorgan Chase & Co. now owns 313,700 shares of the company’s stock valued at $5,674,000 after acquiring an additional 51,010 shares during the last quarter. BlackRock Inc. increased its position in Ra Pharmaceuticals by 33.5% during the second quarter. BlackRock Inc. now owns 1,537,331 shares of the company’s stock worth $15,297,000 after acquiring an additional 385,587 shares during the period. Point72 Asset Management L.P. bought a new position in Ra Pharmaceuticals during the third quarter worth about $1,415,000. Bank of America Corp DE increased its position in Ra Pharmaceuticals by 513.2% during the second quarter. Bank of America Corp DE now owns 43,436 shares of the company’s stock worth $432,000 after acquiring an additional 36,352 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Ra Pharmaceuticals by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 214,579 shares of the company’s stock worth $2,135,000 after acquiring an additional 46,126 shares during the period. Hedge funds and other institutional investors own 78.35% of the company’s stock.
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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