Short Interest in Ra Pharmaceuticals Inc (RARX) Expands By 52.2%

Ra Pharmaceuticals Inc (NASDAQ:RARX) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,700,188 shares, an increase of 52.2% from the February 28th total of 1,117,092 shares. Currently, 10.1% of the company’s stock are short sold. Based on an average daily volume of 353,290 shares, the days-to-cover ratio is currently 4.8 days.

NASDAQ:RARX opened at $5.31 on Friday. Ra Pharmaceuticals has a one year low of $5.03 and a one year high of $27.84. The stock has a market capitalization of $171.44, a P/E ratio of -2.20 and a beta of 2.05.

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Ra Pharmaceuticals (NASDAQ:RARX) last released its quarterly earnings results on Wednesday, March 14th. The company reported ($0.67) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.03. analysts forecast that Ra Pharmaceuticals will post -2.16 EPS for the current year.

RARX has been the topic of a number of recent research reports. BMO Capital Markets boosted their price objective 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 price objective on the stock 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. SunTrust Banks restated a “buy” rating on shares of Ra Pharmaceuticals in a research note on Thursday, March 15th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $19.50.

In related news, major shareholder Enterprise Associates 13 L. New acquired 2,000,000 shares of Ra Pharmaceuticals stock in a transaction on Friday, February 16th. The shares were bought at an average price of $6.00 per share, for a total transaction of $12,000,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ra Capital Healthcare Fund Lp acquired 2,500,000 shares of Ra Pharmaceuticals stock in a transaction on Wednesday, February 14th. The shares were bought at an average price of $6.00 per share, for a total transaction of $15,000,000.00. The disclosure for this purchase can be found here. Insiders own 14.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Ra Pharmaceuticals by 47.9% in the fourth quarter. BlackRock Inc. now owns 952,580 shares of the company’s stock worth $8,097,000 after acquiring an additional 308,452 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Ra Pharmaceuticals in the third quarter worth about $4,664,000. Sectoral Asset Management Inc lifted its stake in shares of Ra Pharmaceuticals by 55.6% in the third quarter. Sectoral Asset Management Inc now owns 278,082 shares of the company’s stock worth $4,060,000 after acquiring an additional 99,332 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ra Pharmaceuticals by 28.2% in the third quarter. JPMorgan Chase & Co. now owns 256,300 shares of the company’s stock worth $3,742,000 after acquiring an additional 56,400 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Ra Pharmaceuticals by 40.3% in the second quarter. State Street Corp now owns 151,063 shares of the company’s stock worth $2,830,000 after acquiring an additional 43,376 shares in the last quarter. Institutional investors and hedge funds own 47.86% of the company’s stock.

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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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