Reata Pharmaceuticals Inc (RETA) Upgraded by Zacks Investment Research to “Buy”
Reata Pharmaceuticals Inc (NASDAQ:RETA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $30.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 13.42% from the company’s current price.
According to Zacks, “Reata Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is engaged in identifying, developing and commercializing product candidates which modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress and inflammation to address the unmet medical needs of serious or life-threatening diseases. Reata Pharmaceuticals, Inc. is based in Irving, United States. “
A number of other research firms have also weighed in on RETA. Cowen and Company started coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They set an “outperform” rating and a $22.00 target price for the company. Piper Jaffray Cos. started coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They set an “overweight” rating and a $33.00 target price for the company. Finally, Citigroup Inc. started coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They set a “buy” rating and a $32.00 target price for the company.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/reata-pharmaceuticals-inc-reta-upgraded-by-zacks-investment-research-to-buy.html
Shares of Reata Pharmaceuticals (NASDAQ:RETA) opened at 26.45 on Wednesday. The company’s market cap is $590.50 million. Reata Pharmaceuticals has a one year low of $11.03 and a one year high of $32.22. The company has a 50 day moving average price of $20.26 and a 200 day moving average price of $19.22.
Reata Pharmaceuticals (NASDAQ:RETA) last posted its earnings results on Thursday, August 11th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $12.40 million for the quarter. Equities analysts predict that Reata Pharmaceuticals will post ($0.54) EPS for the current year.
In other news, Director Jack Nielsen bought 1,780 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were purchased at an average cost of $17.00 per share, with a total value of $30,260.00. Following the transaction, the director now directly owns 1,780 shares in the company, valued at $30,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cpmg Inc bought 73,403 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The stock was purchased at an average cost of $19.26 per share, for a total transaction of $1,413,741.78. Following the completion of the transaction, the director now owns 113 shares in the company, valued at $2,176.38. The disclosure for this purchase can be found here.
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.
Receive News & Ratings for Reata Pharmaceuticals Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reata Pharmaceuticals Inc and related companies with MarketBeat.com's FREE daily email newsletter.