Cowen and Company Lowers Raptor Pharmaceutical Corp. (RPTP) to Market Perform
Cowen and Company cut shares of Raptor Pharmaceutical Corp. (NASDAQ:RPTP) from an outperform rating to a market perform rating in a research note issued to investors on Friday morning. They currently have $9.00 target price on the stock.
Several other research firms have also recently weighed in on RPTP. FBR & Co reaffirmed a hold rating on shares of Raptor Pharmaceutical Corp. in a report on Thursday, September 8th. Zacks Investment Research raised shares of Raptor Pharmaceutical Corp. from a hold rating to a buy rating and set a $7.50 price target on the stock in a report on Thursday, August 11th. Wedbush reaffirmed a neutral rating and issued a $4.00 price target (down previously from $9.00) on shares of Raptor Pharmaceutical Corp. in a report on Monday, September 12th. Finally, Citigroup Inc. cut shares of Raptor Pharmaceutical Corp. from a buy rating to a neutral rating and upped their price target for the stock from $6.00 to $8.00 in a report on Monday, August 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Raptor Pharmaceutical Corp. has a consensus rating of Hold and a consensus price target of $7.93.
Raptor Pharmaceutical Corp. (NASDAQ:RPTP) opened at 8.97 on Friday. The firm’s 50-day moving average price is $7.41 and its 200 day moving average price is $5.71. Raptor Pharmaceutical Corp. has a one year low of $2.94 and a one year high of $8.99. The firm’s market capitalization is $765.19 million.
Raptor Pharmaceutical Corp. (NASDAQ:RPTP) last posted its earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm had revenue of $32.05 million for the quarter, compared to the consensus estimate of $28.52 million. Raptor Pharmaceutical Corp. had a negative return on equity of 66.67% and a negative net margin of 79.29%. The business’s quarterly revenue was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, equities analysts anticipate that Raptor Pharmaceutical Corp. will post ($0.90) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Raptor Pharmaceutical Corp. by 216.7% in the second quarter. BlackRock Inc. now owns 18,845 shares of the company’s stock worth $101,000 after buying an additional 12,894 shares in the last quarter. SECOR Capital Advisors LP purchased a new stake in Raptor Pharmaceutical Corp. during the second quarter worth $165,000. American International Group Inc. raised its stake in Raptor Pharmaceutical Corp. by 4.5% in the second quarter. American International Group Inc. now owns 49,237 shares of the company’s stock worth $264,000 after buying an additional 2,101 shares in the last quarter. Nationwide Fund Advisors raised its stake in Raptor Pharmaceutical Corp. by 9.0% in the second quarter. Nationwide Fund Advisors now owns 55,579 shares of the company’s stock worth $298,000 after buying an additional 4,569 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in Raptor Pharmaceutical Corp. by 45.0% in the first quarter. Squarepoint Ops LLC now owns 65,400 shares of the company’s stock worth $301,000 after buying an additional 20,300 shares in the last quarter. Institutional investors own 54.91% of the company’s stock.
About Raptor Pharmaceutical Corp.
Raptor Pharmaceutical Corp. (Raptor) is a biopharmaceutical company. The Company is focused on developing and commercializing transformative treatments for people affected by diseases. Its product, PROCYSBI (cysteamine bitartrate) is a delayed-release capsules for the management of nephropathic cystinosis in adults and children of over six years.
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