Reata Pharmaceuticals (NASDAQ:RETA) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Reata Pharmaceuticals (NASDAQ:RETA) from a sell rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

A number of other equities research analysts have also weighed in on RETA. Zacks Investment Research lowered Reata Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, July 11th. Citigroup increased their price target on shares of Reata Pharmaceuticals from $190.00 to $194.00 and gave the stock a buy rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $141.50.

NASDAQ:RETA opened at $88.34 on Friday. The company has a debt-to-equity ratio of 5.23, a current ratio of 4.24 and a quick ratio of 4.24. The firm has a 50-day moving average of $81.32 and a two-hundred day moving average of $86.36. The stock has a market cap of $2.59 billion, a P/E ratio of -30.78 and a beta of 2.41. Reata Pharmaceuticals has a 1-year low of $47.50 and a 1-year high of $104.53.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its earnings results on Thursday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.12) by ($0.02). Reata Pharmaceuticals had a negative return on equity of 3,282.73% and a negative net margin of 410.38%. The business had revenue of $7.83 million for the quarter, compared to analysts’ expectations of $7.76 million. As a group, equities analysts expect that Reata Pharmaceuticals will post -4.56 earnings per share for the current year.

In other news, CFO Jason Douglas Wilson sold 4,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $83.54, for a total transaction of $334,160.00. Following the transaction, the chief financial officer now directly owns 4,000 shares of the company’s stock, valued at $334,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elaine Castellanos sold 2,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the sale, the insider now directly owns 4,138 shares of the company’s stock, valued at approximately $351,730. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,000 shares of company stock valued at $1,133,440. Corporate insiders own 34.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp acquired a new stake in Reata Pharmaceuticals during the second quarter valued at approximately $693,000. Eaton Vance Management acquired a new stake in shares of Reata Pharmaceuticals during the 2nd quarter valued at $1,033,000. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Reata Pharmaceuticals by 37.1% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 183,919 shares of the company’s stock worth $17,353,000 after acquiring an additional 49,814 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Reata Pharmaceuticals by 2,708.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 135,312 shares of the company’s stock worth $12,767,000 after acquiring an additional 130,494 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Reata Pharmaceuticals by 55.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 650,391 shares of the company’s stock worth $61,364,000 after acquiring an additional 231,369 shares in the last quarter. Institutional investors and hedge funds own 58.47% of the company’s stock.

About Reata Pharmaceuticals

Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl (Bard) for the treatment of patients with chronic kidney disease caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; and omaveloxolone that is Phase II clinical trial for the treatment of patients with Friedreich's ataxia It is also developing RTA 901, which completed Phase 1 clinical trials for the treatment of orphan neurological indications; and RORgT Inhibitors that are in the preclinical development phase for the potential treatment of a range of autoimmune, inflammatory, and fibrotic diseases.

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