National Securities Lowers Reata Pharmaceuticals (NASDAQ:RETA) to Neutral

National Securities cut shares of Reata Pharmaceuticals (NASDAQ:RETA) from a buy rating to a neutral rating in a research report report published on Wednesday, Briefing.com Automated Import reports.

A number of other analysts have also issued reports on RETA. Stifel Nicolaus lifted their target price on Reata Pharmaceuticals from $135.00 to $210.00 and gave the stock a buy rating in a research report on Wednesday, October 16th. Jefferies Financial Group lifted their target price on Reata Pharmaceuticals from $128.00 to $254.00 and gave the stock a buy rating in a research report on Tuesday, October 15th. Leerink Swann set a $230.00 target price on Reata Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, October 15th. Robert W. Baird lifted their target price on Reata Pharmaceuticals from $162.00 to $245.00 and gave the stock a positive rating in a research report on Tuesday, November 12th. Finally, BidaskClub raised Reata Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Reata Pharmaceuticals presently has an average rating of Buy and an average target price of $247.63.

NASDAQ:RETA traded down $4.53 during trading hours on Wednesday, reaching $198.91. 877,400 shares of the company traded hands, compared to its average volume of 719,663. The firm’s 50-day moving average is $152.87 and its 200-day moving average is $102.51. Reata Pharmaceuticals has a 1-year low of $47.50 and a 1-year high of $217.47. The stock has a market cap of $6.12 billion, a P/E ratio of -69.31 and a beta of 2.75.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its earnings results on Tuesday, November 12th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.25) by ($0.07). Reata Pharmaceuticals had a negative return on equity of 3,282.73% and a negative net margin of 398.84%. The business had revenue of $8.24 million for the quarter, compared to analysts’ expectations of $7.43 million. During the same period in the previous year, the firm posted ($1.07) earnings per share. The firm’s revenue was up 59.1% compared to the same quarter last year. As a group, sell-side analysts predict that Reata Pharmaceuticals will post -5.35 EPS for the current year.

In related news, CAO Elaine Castellanos sold 4,000 shares of Reata Pharmaceuticals stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.00, for a total value of $800,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,146 shares in the company, valued at $3,829,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jason Douglas Wilson sold 10,000 shares of Reata Pharmaceuticals stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $170.00, for a total value of $1,700,000.00. Following the completion of the transaction, the vice president now owns 17,350 shares of the company’s stock, valued at $2,949,500. The disclosure for this sale can be found here. Insiders sold 101,000 shares of company stock valued at $10,661,430 over the last quarter. Insiders own 34.40% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Reata Pharmaceuticals by 3.2% in the second quarter. BlackRock Inc. now owns 1,915,707 shares of the company’s stock valued at $180,747,000 after acquiring an additional 58,853 shares during the period. Vanguard Group Inc. boosted its stake in Reata Pharmaceuticals by 3.8% in the second quarter. Vanguard Group Inc. now owns 1,749,451 shares of the company’s stock valued at $165,062,000 after acquiring an additional 64,609 shares during the period. Cormorant Asset Management LP boosted its stake in Reata Pharmaceuticals by 31.1% in the second quarter. Cormorant Asset Management LP now owns 806,150 shares of the company’s stock valued at $76,060,000 after acquiring an additional 191,150 shares during the period. Farallon Capital Management LLC boosted its stake in Reata Pharmaceuticals by 6.7% in the second quarter. Farallon Capital Management LLC now owns 800,000 shares of the company’s stock valued at $75,480,000 after acquiring an additional 50,000 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Reata Pharmaceuticals by 55.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 650,391 shares of the company’s stock valued at $61,364,000 after acquiring an additional 231,369 shares during the period. Institutional investors and hedge funds own 58.24% of the company’s stock.

Reata Pharmaceuticals Company Profile

Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl (Bard) for the treatment of patients with chronic kidney disease caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; and omaveloxolone that is Phase II clinical trial for the treatment of patients with Friedreich's ataxia It is also developing RTA 901, which completed Phase 1 clinical trials for the treatment of orphan neurological indications; and RORgT Inhibitors that are in the preclinical development phase for the potential treatment of a range of autoimmune, inflammatory, and fibrotic diseases.

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Analyst Recommendations for Reata Pharmaceuticals (NASDAQ:RETA)

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