Reata Pharmaceuticals (RETA) Upgraded to “Hold” by BidaskClub

Reata Pharmaceuticals (NASDAQ:RETA) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also recently issued reports on the company. Cowen reiterated a “buy” rating on shares of Reata Pharmaceuticals in a research report on Tuesday, November 14th. ValuEngine cut Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Zacks Investment Research cut Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. Jefferies Group reiterated a “buy” rating and issued a $44.00 price objective on shares of Reata Pharmaceuticals in a research report on Friday, October 6th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $47.00 price objective on shares of Reata Pharmaceuticals in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. Reata Pharmaceuticals has an average rating of “Buy” and an average price target of $54.71.

Shares of Reata Pharmaceuticals (NASDAQ:RETA) opened at $29.79 on Friday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of -0.15. Reata Pharmaceuticals has a fifty-two week low of $19.48 and a fifty-two week high of $40.88. The firm has a market capitalization of $773.21, a price-to-earnings ratio of -19.47 and a beta of -3.11.

Reata Pharmaceuticals (NASDAQ:RETA) last issued its quarterly earnings results on Monday, November 13th. The company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.11). The company had revenue of $12.60 million during the quarter, compared to analysts’ expectations of $12.54 million. Reata Pharmaceuticals’s quarterly revenue was up .0% compared to the same quarter last year. analysts anticipate that Reata Pharmaceuticals will post -1.91 EPS for the current year.

In other news, Director James Edward Bass purchased 3,888 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $24.02 per share, for a total transaction of $93,389.76. Following the completion of the transaction, the director now directly owns 52,089 shares in the company, valued at approximately $1,251,177.78. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Cpmg Inc purchased 200,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was purchased at an average price of $24.79 per share, with a total value of $4,958,000.00. Following the transaction, the director now owns 113 shares of the company’s stock, valued at $2,801.27. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 413,813 shares of company stock valued at $10,453,354. Company insiders own 44.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in RETA. Nationwide Fund Advisors increased its position in shares of Reata Pharmaceuticals by 38.1% in the second quarter. Nationwide Fund Advisors now owns 4,368 shares of the company’s stock valued at $138,000 after buying an additional 1,206 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Reata Pharmaceuticals by 37.4% in the second quarter. Wells Fargo & Company MN now owns 5,591 shares of the company’s stock valued at $176,000 after buying an additional 1,521 shares in the last quarter. First Allied Advisory Services Inc. purchased a new position in shares of Reata Pharmaceuticals in the third quarter valued at $203,000. The Manufacturers Life Insurance Company increased its position in shares of Reata Pharmaceuticals by 102.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,343 shares of the company’s stock valued at $233,000 after buying an additional 3,715 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Reata Pharmaceuticals by 42.5% in the third quarter. American International Group Inc. now owns 7,528 shares of the company’s stock valued at $234,000 after buying an additional 2,247 shares in the last quarter. Institutional investors and hedge funds own 29.58% of the company’s stock.

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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.

Analyst Recommendations for Reata Pharmaceuticals (NASDAQ:RETA)

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