Ra Pharmaceuticals (RARX) Trading Up 13.3%
Ra Pharmaceuticals Inc (NASDAQ:RARX) was up 13.3% on Tuesday . The stock traded as high as $8.04 and last traded at $7.74. Approximately 564,146 shares were traded during mid-day trading, an increase of 168% from the average daily volume of 210,651 shares. The stock had previously closed at $6.83.
Several equities research analysts have weighed in on RARX shares. BMO Capital Markets upped their target price on Ra Pharmaceuticals in a report on Tuesday, December 5th. Zacks Investment Research upgraded Ra Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Wednesday, January 10th. Royal Bank of Canada restated a “buy” rating and set a $18.00 price objective on shares of Ra Pharmaceuticals in a research note on Tuesday, December 5th. Credit Suisse Group restated an “outperform” rating and set a $16.00 price objective on shares of Ra Pharmaceuticals in a research note on Thursday, January 18th. Finally, ValuEngine cut Ra Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $20.10.
In related news, major shareholder Enterprise Associates 13 L. New acquired 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average cost of $6.00 per share, for a total transaction of $12,000,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ra Capital Healthcare Fund Lp purchased 2,500,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was acquired at an average price of $6.00 per share, with a total value of $15,000,000.00. The disclosure for this purchase can be found here. Corporate insiders own 14.50% of the company’s stock.
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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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