Reata Pharmaceuticals Inc (RETA) Stock Price Down 9%
Shares of Reata Pharmaceuticals Inc (NASDAQ:RETA) dropped 9% on Tuesday . The company traded as low as $27.35 and last traded at $27.35, with a volume of 110,772 shares trading hands. The stock had previously closed at $30.05.
RETA has been the subject of a number of analyst reports. Piper Jaffray Cos. initiated coverage on shares of Reata Pharmaceuticals in a research note on Monday, June 20th. They set an “overweight” rating and a $33.00 price objective for the company. Cowen and Company initiated coverage on shares of Reata Pharmaceuticals in a research note on Monday, June 20th. They set an “outperform” rating and a $22.00 price objective for the company. Citigroup Inc. initiated coverage on shares of Reata Pharmaceuticals in a research note on Monday, June 20th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Reata Pharmaceuticals from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Saturday, August 27th.
The company has a 50 day moving average price of $19.96 and a 200 day moving average price of $19.13. The company’s market capitalization is $590.50 million.
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Reata Pharmaceuticals (NASDAQ:RETA) last posted its quarterly earnings results on Thursday, August 11th. The company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.03. The company earned $12.40 million during the quarter. Equities research analysts anticipate that Reata Pharmaceuticals Inc will post ($0.54) EPS for the current fiscal year.
In related news, Director R Kent Mcgaughy, Jr. purchased 308,220 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 25,004 shares in the company, valued at approximately $427,068.32. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack Nielsen purchased 1,780 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was bought at an average price of $17.00 per share, for a total transaction of $30,260.00. Following the completion of the acquisition, the director now owns 1,780 shares of the company’s stock, valued at approximately $30,260. 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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