Reata Pharmaceuticals Inc (NASDAQ:RETA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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. “

A number of other research analysts have also issued reports on the company. Piper Jaffray Cos. initiated coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They set an “overweight” rating and a $33.00 target price on the stock. Cowen and Company initiated coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They set an “outperform” rating and a $22.00 target price on the stock. Finally, Citigroup Inc. initiated coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They set a “buy” rating and a $32.00 target price on the stock.

Reata Pharmaceuticals (NASDAQ:RETA) opened at 27.71 on Tuesday. The stock’s 50 day moving average is $20.60 and its 200-day moving average is $19.32. Reata Pharmaceuticals has a 1-year low of $11.03 and a 1-year high of $32.22. The firm’s market cap is $618.63 million.

Reata Pharmaceuticals (NASDAQ:RETA) last released its earnings results on Thursday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $12.40 million for the quarter. Analysts forecast that Reata Pharmaceuticals will post ($0.54) EPS for the current year.

In other Reata Pharmaceuticals news, Director R Kent Mcgaughy, Jr. acquired 308,220 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was purchased at an average cost of $17.08 per share, for a total transaction of $5,264,397.60. Following the transaction, the director now owns 25,004 shares of the company’s stock, valued at approximately $427,068.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack Nielsen acquired 1,780 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were acquired at an average price of $17.00 per share, with a total value of $30,260.00. Following the completion of the transaction, the director now directly owns 1,780 shares in the company, valued at approximately $30,260. The disclosure for this purchase can be found here.

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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