Reata Pharmaceuticals, Inc. (NASDAQ:RETA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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. “

RETA has been the subject of a number of other research reports. Citigroup Inc. boosted their price target on Reata Pharmaceuticals from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Piper Jaffray Companies reissued an “overweight” rating and set a $53.00 price target (up previously from $48.00) on shares of Reata Pharmaceuticals in a report on Monday, June 5th. ValuEngine raised Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 27th. Finally, Ladenburg Thalmann Financial Services began coverage on Reata Pharmaceuticals in a report on Thursday, April 13th. They set a “buy” rating and a $55.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Reata Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $43.00.

Reata Pharmaceuticals (NASDAQ:RETA) opened at 31.41 on Tuesday. Reata Pharmaceuticals has a 52 week low of $15.17 and a 52 week high of $41.60. The firm’s market capitalization is $702.48 million. The company has a 50 day moving average price of $26.73 and a 200-day moving average price of $24.32.

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In other Reata Pharmaceuticals news, major shareholder A/S Novo sold 61,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $25.11, for a total value of $1,531,710.00. Following the completion of the transaction, the insider now owns 642,405 shares of the company’s stock, valued at approximately $16,130,789.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 471,886 shares of company stock valued at $12,541,056. Insiders own 62.40% of the company’s stock.

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Reata Pharmaceuticals by 5.1% in the fourth quarter. State Street Corp now owns 100,414 shares of the company’s stock worth $2,191,000 after buying an additional 4,879 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Reata Pharmaceuticals by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock worth $221,000 after buying an additional 1,148 shares during the last quarter. Osborn Williams & Donohoe LLC boosted its position in shares of Reata Pharmaceuticals by 48.5% in the first quarter. Osborn Williams & Donohoe LLC now owns 69,788 shares of the company’s stock worth $1,581,000 after buying an additional 22,788 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Reata Pharmaceuticals by 19.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 274,692 shares of the company’s stock worth $6,222,000 after buying an additional 45,133 shares during the last quarter. Finally, Emerald Advisers Inc. PA boosted its position in shares of Reata Pharmaceuticals by 13.2% in the first quarter. Emerald Advisers Inc. PA now owns 370,199 shares of the company’s stock worth $8,385,000 after buying an additional 43,052 shares during the last quarter. 41.90% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Reata Pharmaceuticals (NASDAQ:RETA)

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