Jefferies Group LLC Reiterates Buy Rating for Reata Pharmaceuticals, Inc. (RETA)
Reata Pharmaceuticals, Inc. (NASDAQ:RETA)‘s stock had its “buy” rating restated by research analysts at Jefferies Group LLC in a report issued on Friday. They currently have a $44.00 target price on the stock. Jefferies Group LLC’s target price would suggest a potential upside of 40.17% from the company’s current price.
Several other research firms have also commented on RETA. Citigroup Inc. reaffirmed a “buy” rating and set a $78.00 target price (down from $87.00) on shares of Reata Pharmaceuticals in a report on Wednesday, August 23rd. ValuEngine raised Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird reaffirmed a “buy” rating and set a $47.00 target price on shares of Reata Pharmaceuticals in a report on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 target price (up from $38.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $54.71.
Shares of Reata Pharmaceuticals (NASDAQ:RETA) opened at 31.39 on Friday. The firm’s 50-day moving average price is $29.57 and its 200-day moving average price is $27.25. Reata Pharmaceuticals has a 52-week low of $18.51 and a 52-week high of $41.60. The firm’s market capitalization is $819.37 million.
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In other Reata Pharmaceuticals news, Director James Edward Bass acquired 8,064 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average cost of $31.00 per share, with a total value of $249,984.00. Following the acquisition, the director now directly owns 67,411 shares of the company’s stock, valued at approximately $2,089,741. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 62.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors grew its holdings in Reata Pharmaceuticals by 38.1% in the 2nd quarter. Nationwide Fund Advisors now owns 4,368 shares of the company’s stock worth $138,000 after buying an additional 1,206 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Reata Pharmaceuticals by 37.4% in the 2nd quarter. Wells Fargo & Company MN now owns 5,591 shares of the company’s stock worth $176,000 after buying an additional 1,521 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Reata Pharmaceuticals by 102.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,343 shares of the company’s stock worth $233,000 after buying an additional 3,715 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in Reata Pharmaceuticals in the 2nd quarter worth approximately $249,000. Finally, Russell Investments Group Ltd. bought a new position in Reata Pharmaceuticals in the 2nd quarter worth approximately $254,000. 15.56% 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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