Reata Pharmaceuticals (RETA) Rating Lowered to Sell at BidaskClub

Reata Pharmaceuticals (NASDAQ:RETA) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Several other analysts have also commented on RETA. Cowen reiterated a “buy” rating on shares of Reata Pharmaceuticals in a report on Tuesday, November 14th. Jefferies Group reiterated a “buy” rating and set a $44.00 price objective on shares of Reata Pharmaceuticals in a report on Friday, October 6th. Robert W. Baird reiterated a “buy” rating and set a $47.00 price objective on shares of Reata Pharmaceuticals in a report on Friday, September 1st. Citigroup reiterated a “buy” rating and set a $78.00 price objective (down previously from $87.00) on shares of Reata Pharmaceuticals in a report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded Reata Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $54.71.

Shares of Reata Pharmaceuticals (RETA) opened at $24.32 on Tuesday. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of -0.15. Reata Pharmaceuticals has a twelve month low of $18.51 and a twelve month high of $40.88.

Reata Pharmaceuticals (NASDAQ:RETA) last posted its earnings results on Monday, November 13th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.11). The business had revenue of $12.60 million during the quarter, compared to the consensus estimate of $12.54 million. The firm’s revenue for the quarter was up .0% on a year-over-year basis. equities analysts anticipate that Reata Pharmaceuticals will post -1.9 earnings per share for the current fiscal year.

In other news, Director James Edward Bass bought 3,888 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $24.02 per share, with a total value of $93,389.76. Following the transaction, the director now directly owns 52,089 shares in the company, valued at $1,251,177.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 44.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Emerald Advisers Inc. PA grew its position in Reata Pharmaceuticals by 40.1% during the 3rd quarter. Emerald Advisers Inc. PA now owns 569,416 shares of the company’s stock worth $17,709,000 after purchasing an additional 162,990 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in Reata Pharmaceuticals by 60.9% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 473,051 shares of the company’s stock worth $14,712,000 after purchasing an additional 179,124 shares during the period. FMR LLC grew its position in Reata Pharmaceuticals by 74.4% during the 2nd quarter. FMR LLC now owns 414,491 shares of the company’s stock worth $13,114,000 after purchasing an additional 176,885 shares during the period. Vanguard Group Inc. grew its position in Reata Pharmaceuticals by 109.6% during the 2nd quarter. Vanguard Group Inc. now owns 295,540 shares of the company’s stock worth $9,350,000 after purchasing an additional 154,515 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Reata Pharmaceuticals by 78.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 232,562 shares of the company’s stock worth $7,359,000 after purchasing an additional 101,969 shares during the period. 29.61% of the stock is currently owned by institutional investors.

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About Reata Pharmaceuticals

Reata Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on identifying, developing and commercializing product candidates that modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a range of serious or life-threatening diseases.

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