Reata Pharmaceuticals (NASDAQ:RETA) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.
Several other analysts also recently issued reports on the company. Cantor Fitzgerald restated a “buy” rating and issued a $100.00 price objective on shares of Reata Pharmaceuticals in a research report on Monday, October 1st. LADENBURG THALM/SH SH restated a “buy” rating and issued a $133.00 price objective on shares of Reata Pharmaceuticals in a research report on Wednesday, September 26th. Leerink Swann restated an “outperform” rating and issued a $139.00 price objective (up from $116.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, September 25th. Zacks Investment Research downgraded Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Finally, Citigroup upped their price objective on Reata Pharmaceuticals from $76.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $100.33.
Shares of NASDAQ:RETA opened at $68.25 on Friday. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of -0.47. Reata Pharmaceuticals has a 52-week low of $19.31 and a 52-week high of $99.50. The firm has a market capitalization of $2.43 billion, a PE ratio of -34.30 and a beta of 2.79.
Reata Pharmaceuticals (NASDAQ:RETA) last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.34). The firm had revenue of $7.57 million during the quarter, compared to analyst estimates of $9.11 million. On average, equities analysts anticipate that Reata Pharmaceuticals will post -2.56 EPS for the current fiscal year.
In other Reata Pharmaceuticals news, Director James Edward Bass bought 888 shares of Reata Pharmaceuticals stock in a transaction that occurred on Wednesday, July 25th. The shares were purchased at an average cost of $78.34 per share, for a total transaction of $69,565.92. Following the completion of the transaction, the director now owns 51,543 shares of the company’s stock, valued at approximately $4,037,878.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Elaine Castellanos sold 7,336 shares of the stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $50.81, for a total value of $372,742.16. Following the transaction, the insider now owns 140 shares in the company, valued at $7,113.40. The disclosure for this sale can be found here. Corporate insiders own 31.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in Reata Pharmaceuticals by 1.4% during the first quarter. Northern Trust Corp now owns 129,984 shares of the company’s stock worth $2,666,000 after buying an additional 1,735 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in Reata Pharmaceuticals by 53.2% during the second quarter. Metropolitan Life Insurance Co. NY now owns 5,460 shares of the company’s stock worth $191,000 after buying an additional 1,897 shares during the period. MetLife Investment Advisors LLC lifted its position in Reata Pharmaceuticals by 72.7% during the second quarter. MetLife Investment Advisors LLC now owns 7,732 shares of the company’s stock worth $270,000 after buying an additional 3,255 shares during the period. Woodstock Corp lifted its position in Reata Pharmaceuticals by 20.1% during the second quarter. Woodstock Corp now owns 23,730 shares of the company’s stock worth $830,000 after buying an additional 3,978 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Reata Pharmaceuticals during the second quarter worth about $154,000. Hedge funds and other institutional investors own 46.63% of the company’s stock.
About Reata Pharmaceuticals
Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on identifying, developing, and commercializing therapeutics to address serious and life-threatening diseases with therapies by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl for the treatment of patients with chronic kidney disease caused by Alport syndrome; and for a form of pulmonary arterial hypertension associated with connective tissue disease.
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