Piper Jaffray Cos. Analysts Give Reata Pharmaceuticals Inc. (RETA) a $33.00 Price Target
Reata Pharmaceuticals Inc. (NASDAQ:RETA) received a $33.00 price target from research analysts at Piper Jaffray Cos. in a report issued on Friday. The brokerage currently has a a “buy” rating on the stock. Piper Jaffray Cos.’s price target would indicate a potential upside of 13.79% from the company’s previous close.
Other analysts also recently issued reports about the company. Cowen and Company began coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They issued an “outperform” rating and a $22.00 price objective for the company. Zacks Investment Research upgraded Reata Pharmaceuticals from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Saturday, August 27th. Finally, Citigroup Inc. began coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They issued a “buy” rating and a $32.00 price objective for the company.
Shares of Reata Pharmaceuticals (NASDAQ:RETA) traded up 3.53% during mid-day trading on Friday, hitting $29.00. The stock had a trading volume of 164,350 shares. The firm’s 50 day moving average price is $23.49 and its 200 day moving average price is $20.03. The company’s market cap is $647.43 million. Reata Pharmaceuticals has a 1-year low of $11.03 and a 1-year high of $32.22.
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Reata Pharmaceuticals (NASDAQ:RETA) last posted its quarterly earnings data on Thursday, August 11th. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.03. The company earned $12.40 million during the quarter. Analysts predict that Reata Pharmaceuticals will post ($0.54) earnings per share for the current fiscal year.
In other Reata Pharmaceuticals news, insider Colin John Meyer purchased 7,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was purchased at an average cost of $16.26 per share, for a total transaction of $113,820.00. Following the acquisition, the insider now owns 27,172 shares in the company, valued at approximately $441,816.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack Nielsen purchased 1,780 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were acquired at an average price of $17.00 per share, with a total value of $30,260.00. Following the completion of the acquisition, the director now owns 1,780 shares in the company, valued at approximately $30,260. The disclosure for this purchase can be found here. Company insiders own 62.40% of the company’s stock.
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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