Reata Pharmaceuticals Inc (NASDAQ:RETA) Given Consensus Rating of “Strong Buy” by Brokerages
Shares of Reata Pharmaceuticals Inc (NASDAQ:RETA) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus target price of $33.00 for the company and are expecting that the company will post ($0.18) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Reata Pharmaceuticals an industry rank of 92 out of 265 based on the ratings given to its competitors.
RETA has been the topic of several research reports. Piper Jaffray Cos. initiated coverage on shares of Reata Pharmaceuticals in a report on Monday, June 20th. They issued an “overweight” rating and a $33.00 price objective on the stock. Citigroup Inc. initiated coverage on shares of Reata Pharmaceuticals in a research report on Monday, June 20th. They issued a “buy” rating and a $32.00 target price for the company. Zacks Investment Research raised shares of Reata Pharmaceuticals from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Saturday, August 27th. Finally, Cowen and Company initiated coverage on shares of Reata Pharmaceuticals in a research report on Monday, June 20th. They issued an “outperform” rating and a $22.00 target price for the company.
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Reata Pharmaceuticals (NASDAQ:RETA) traded down 6.4223% during midday trading on Tuesday, reaching $28.1201. 100,158 shares of the company’s stock traded hands. Reata Pharmaceuticals has a 52-week low of $11.03 and a 52-week high of $32.22. The stock has a 50-day moving average of $19.96 and a 200 day moving average of $19.13. The company’s market cap is $627.78 million.
Reata Pharmaceuticals (NASDAQ:RETA) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The company earned $12.40 million during the quarter. On average, analysts anticipate that Reata Pharmaceuticals will post ($0.54) earnings per share for the current fiscal year.
In other news, Director R Kent Mcgaughy, Jr. acquired 308,220 shares of Reata Pharmaceuticals stock in a transaction on Thursday, August 18th. The shares were purchased at an average cost of $17.08 per share, for a total transaction of $5,264,397.60. Following the completion of the purchase, the director now directly owns 25,004 shares of the company’s stock, valued at approximately $427,068.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Cpmg Inc acquired 73,403 shares of Reata Pharmaceuticals stock in a transaction on Monday, June 27th. The shares were purchased at an average price of $19.26 per share, for a total transaction of $1,413,741.78. Following the completion of the purchase, the director now directly owns 113 shares of the company’s stock, valued at $2,176.38. The disclosure for this purchase can be found here.
Reata Pharmaceuticals Company Profile
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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