Reata Pharmaceuticals Inc (RETA) Upgraded to Buy by Zacks Investment Research
Reata Pharmaceuticals Inc (NASDAQ:RETA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $30.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 8.26% 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. “
Other equities research analysts have also recently issued research reports about the stock. Piper Jaffray Cos. assumed coverage on shares of Reata Pharmaceuticals in a research note on Monday, June 20th. They set an “overweight” rating and a $33.00 target price on the stock. Citigroup Inc. assumed coverage on shares of Reata Pharmaceuticals in a research note on Monday, June 20th. They set a “buy” rating and a $32.00 target price on the stock. Finally, Cowen and Company assumed coverage on shares of Reata Pharmaceuticals in a research note on Monday, June 20th. They set an “outperform” rating and a $22.00 target price on the stock.
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Reata Pharmaceuticals (NASDAQ:RETA) traded up 4.76% during trading on Wednesday, reaching $27.71. 304,663 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $20.60 and its 200-day moving average is $19.32. The company’s market cap is $618.63 million. Reata Pharmaceuticals has a 12-month low of $11.03 and a 12-month high of $32.22.
Reata Pharmaceuticals (NASDAQ:RETA) last posted its quarterly earnings data on Thursday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business earned $12.40 million during the quarter. Analysts predict that Reata Pharmaceuticals will post ($0.54) EPS for the current fiscal year.
In related news, insider Colin John Meyer acquired 7,000 shares of Reata Pharmaceuticals stock in a transaction dated Tuesday, August 16th. The shares were purchased at an average price of $16.26 per share, for a total transaction of $113,820.00. Following the completion of the transaction, the insider now directly owns 27,172 shares in the company, valued at approximately $441,816.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director R Kent Mcgaughy, Jr. acquired 308,220 shares of Reata Pharmaceuticals stock in a transaction dated Thursday, August 18th. The shares were bought at an average price of $17.08 per share, for a total transaction of $5,264,397.60. Following the transaction, the director now owns 25,004 shares of the company’s stock, valued at $427,068.32. 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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