Shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) have received an average rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $61.00.
RETA has been the subject of a number of recent analyst reports. Citigroup Inc. lifted their price target on shares of Reata Pharmaceuticals from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Ladenburg Thalmann Financial Services initiated coverage on shares of Reata Pharmaceuticals in a research report on Thursday, April 13th. They set a “buy” rating and a $55.00 price target for the company. Zacks Investment Research cut shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Piper Jaffray Companies restated an “overweight” rating and issued a $53.00 price objective (up previously from $48.00) on shares of Reata Pharmaceuticals in a report on Monday, June 5th. Finally, ValuEngine upgraded shares of Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 27th.
In other Reata Pharmaceuticals news, major shareholder A/S Novo sold 222,503 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $25.71, for a total transaction of $5,720,552.13. Following the completion of the transaction, the insider now owns 746,297 shares in the company, valued at approximately $19,187,295.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Edward Bass purchased 8,064 shares of the stock in a transaction on Tuesday, August 1st. The shares were purchased at an average price of $31.00 per share, with a total value of $249,984.00. Following the acquisition, the director now directly owns 67,411 shares in the company, valued at $2,089,741. The disclosure for this purchase can be found here. Insiders sold 471,886 shares of company stock valued at $12,541,056 in the last 90 days. Company insiders own 62.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Reata Pharmaceuticals by 19.5% in the first quarter. Geode Capital Management LLC now owns 63,778 shares of the company’s stock valued at $1,444,000 after buying an additional 10,397 shares during the period. Fifth Third Bancorp purchased a new position in Reata Pharmaceuticals during the first quarter valued at approximately $395,000. RGT Capital Management Ltd. purchased a new position in Reata Pharmaceuticals during the first quarter valued at approximately $1,347,000. FMR LLC boosted its position in Reata Pharmaceuticals by 40.6% in the first quarter. FMR LLC now owns 237,606 shares of the company’s stock valued at $5,382,000 after buying an additional 68,600 shares during the period. Finally, Atlantic Trust Group LLC purchased a new position in Reata Pharmaceuticals during the first quarter valued at approximately $285,000. Institutional investors own 41.76% of the company’s stock.
Reata Pharmaceuticals (RETA) opened at 26.99 on Tuesday. The company’s market cap is $603.63 million. Reata Pharmaceuticals has a 1-year low of $15.50 and a 1-year high of $41.60. The company has a 50-day moving average price of $31.13 and a 200-day moving average price of $26.09.
Reata Pharmaceuticals Company Profile
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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