Ra Pharmaceuticals Inc (RARX) Short Interest Up 41.2% in December
Ra Pharmaceuticals Inc (NASDAQ:RARX) saw a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 1,085,182 shares, a growth of 41.2% from the December 15th total of 768,462 shares. Approximately 11.7% of the shares of the company are sold short. Based on an average trading volume of 175,349 shares, the days-to-cover ratio is presently 6.2 days.
Hedge funds and other institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. bought a new stake in Ra Pharmaceuticals in the 2nd quarter valued at $195,000. The Manufacturers Life Insurance Company boosted its stake in Ra Pharmaceuticals by 30.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,860 shares of the company’s stock valued at $204,000 after purchasing an additional 2,543 shares during the period. Rhumbline Advisers bought a new stake in Ra Pharmaceuticals in the 2nd quarter valued at $241,000. Swiss National Bank bought a new stake in Ra Pharmaceuticals in the 2nd quarter valued at $247,000. Finally, New York State Common Retirement Fund boosted its stake in Ra Pharmaceuticals by 87.8% in the 2nd quarter. New York State Common Retirement Fund now owns 13,900 shares of the company’s stock valued at $260,000 after purchasing an additional 6,499 shares during the period. Institutional investors own 69.64% of the company’s stock.
RARX has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on Ra Pharmaceuticals in a research note on Tuesday, December 5th. Zacks Investment Research upgraded Ra Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Wednesday, January 10th. Royal Bank of Canada reiterated a “buy” rating and set a $18.00 target price on shares of Ra Pharmaceuticals in a research note on Tuesday, December 5th. Jefferies Group reiterated a “buy” rating and set a $25.00 target price on shares of Ra Pharmaceuticals in a research note on Thursday, September 28th. Finally, Credit Suisse Group lifted their target price on Ra Pharmaceuticals from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Ra Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $21.90.
Ra Pharmaceuticals (NASDAQ:RARX) last issued its earnings results on Thursday, November 9th. The company reported ($0.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.06). equities analysts expect that Ra Pharmaceuticals will post -2.46 EPS for the current year.
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Ra Pharmaceuticals Company Profile
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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