Reata Pharmaceuticals (RETA) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Reata Pharmaceuticals (NASDAQ:RETA) from a sell rating to a hold rating in a research report report published on Wednesday.

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. “

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Reata Pharmaceuticals from a strong-buy rating to a buy rating in a report on Saturday, June 23rd. Cantor Fitzgerald reiterated a buy rating and issued a $100.00 target price on shares of Reata Pharmaceuticals in a report on Monday, October 1st. LADENBURG THALM/SH SH restated a buy rating and set a $133.00 price objective on shares of Reata Pharmaceuticals in a report on Wednesday, September 26th. Citigroup raised their price objective on shares of Reata Pharmaceuticals from $76.00 to $95.00 and gave the stock a buy rating in a report on Tuesday, July 24th. Finally, ValuEngine upgraded shares of Reata Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $100.33.

Shares of RETA stock traded up $2.01 on Wednesday, hitting $61.23. The stock had a trading volume of 277,425 shares, compared to its average volume of 294,275. The company has a market cap of $2.43 billion, a P/E ratio of -30.77 and a beta of 2.79. The company has a debt-to-equity ratio of -0.47, a current ratio of 3.09 and a quick ratio of 3.09. Reata Pharmaceuticals has a 12-month low of $19.31 and a 12-month high of $99.50.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its earnings results on Wednesday, August 8th. The company reported ($1.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.34). The firm had revenue of $7.57 million for the quarter, compared to the consensus estimate of $9.11 million. As a group, research analysts expect that Reata Pharmaceuticals will post -2.56 earnings per share for the current fiscal year.

In related news, Director James Edward Bass acquired 888 shares of the firm’s stock in a transaction that occurred on Wednesday, July 25th. The stock was acquired at an average price of $78.34 per share, for a total transaction of $69,565.92. Following the completion of the acquisition, the director now owns 51,543 shares of the company’s stock, valued at approximately $4,037,878.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elaine Castellanos sold 7,336 shares of the firm’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $50.81, for a total transaction of $372,742.16. Following the sale, the insider now owns 140 shares of the company’s stock, valued at approximately $7,113.40. The disclosure for this sale can be found here. Company insiders own 31.69% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in Reata Pharmaceuticals during the second quarter worth about $154,000. Metropolitan Life Insurance Co. NY boosted 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 purchasing an additional 1,897 shares during the period. Voya Investment Management LLC bought a new position in Reata Pharmaceuticals during the second quarter worth about $213,000. State Board of Administration of Florida Retirement System bought a new position in Reata Pharmaceuticals during the second quarter worth about $242,000. Finally, MetLife Investment Advisors LLC boosted 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 purchasing an additional 3,255 shares during the period. Institutional investors and hedge funds 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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