Citigroup Inc. reissued their buy rating on shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) in a research report sent to investors on Tuesday, July 25th, Marketbeat reports. They currently have a $87.00 price target on the stock, up from their prior price target of $39.00.
Several other equities analysts also recently weighed in on the stock. Piper Jaffray Companies reiterated an overweight rating and issued a $48.00 price target on shares of Reata Pharmaceuticals in a report on Tuesday, March 28th. Zacks Investment Research downgraded shares of Reata Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, July 18th. Ladenburg Thalmann Financial Services started coverage on shares of Reata Pharmaceuticals in a report on Thursday, April 13th. They issued a buy rating and a $55.00 price target on the stock. Finally, ValuEngine upgraded shares of Reata Pharmaceuticals from a sell rating to a hold rating in a report on Saturday, May 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Reata Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $55.83.
Shares of Reata Pharmaceuticals (NASDAQ:RETA) traded down 0.53% during mid-day trading on Tuesday, reaching $26.29. 208,264 shares of the company traded hands. Reata Pharmaceuticals has a 52 week low of $17.53 and a 52 week high of $41.60. The firm has a 50-day moving average price of $30.49 and a 200 day moving average price of $26.21. The firm’s market capitalization is $686.25 million.
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In other news, Director James Edward Bass acquired 8,064 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $31.00 per share, with a total value of $249,984.00. Following the purchase, the director now directly owns 67,411 shares of the company’s stock, valued at $2,089,741. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder A/S Novo sold 11,389 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $25.47, for a total transaction of $290,077.83. Following the sale, the insider now directly owns 642,405 shares in the company, valued at approximately $16,362,055.35. The disclosure for this sale can be found here. Insiders have sold a total of 471,886 shares of company stock worth $12,541,056 in the last ninety days. Corporate insiders own 62.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Reata Pharmaceuticals by 5.1% in the fourth quarter. State Street Corp now owns 100,414 shares of the company’s stock worth $2,191,000 after buying an additional 4,879 shares in the last quarter. Teachers Advisors LLC boosted its stake in Reata Pharmaceuticals by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock worth $221,000 after buying an additional 1,148 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its stake in Reata Pharmaceuticals by 48.5% in the first quarter. Osborn Williams & Donohoe LLC now owns 69,788 shares of the company’s stock worth $1,581,000 after buying an additional 22,788 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Reata Pharmaceuticals by 19.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 274,692 shares of the company’s stock worth $6,222,000 after buying an additional 45,133 shares in the last quarter. Finally, Emerald Advisers Inc. PA boosted its stake in Reata Pharmaceuticals by 13.2% in the first quarter. Emerald Advisers Inc. PA now owns 370,199 shares of the company’s stock worth $8,385,000 after buying an additional 43,052 shares in the last quarter. 42.06% of the stock is currently owned by hedge funds and other institutional investors.
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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