Reata Pharmaceuticals, Inc. (RETA) Receives Buy Rating from Robert W. Baird
Reata Pharmaceuticals, Inc. (NASDAQ:RETA)‘s stock had its “buy” rating reiterated by equities researchers at Robert W. Baird in a research note issued to investors on Friday. They presently have a $47.00 price target on the stock. Robert W. Baird’s price target would suggest a potential upside of 55.37% from the stock’s current price.
A number of other equities analysts have also weighed in on RETA. Citigroup Inc. boosted their target price on Reata Pharmaceuticals from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Zacks Investment Research lowered Reata Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. ValuEngine raised Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 27th. Piper Jaffray Companies reissued an “overweight” rating and issued a $53.00 target price (up previously from $48.00) on shares of Reata Pharmaceuticals in a research report on Monday, June 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price (up previously from $38.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $52.86.
Reata Pharmaceuticals (NASDAQ RETA) opened at 30.25 on Friday. The company’s 50-day moving average is $29.42 and its 200 day moving average is $26.49. Reata Pharmaceuticals has a 52-week low of $18.08 and a 52-week high of $41.60. The company’s market cap is $789.62 million.
In other Reata Pharmaceuticals news, Director James Edward Bass purchased 8,064 shares of Reata Pharmaceuticals stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average price of $31.00 per share, with a total value of $249,984.00. Following the transaction, the director now directly owns 67,411 shares of the company’s stock, valued at $2,089,741. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder A/S Novo sold 89,497 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $28.24, for a total transaction of $2,527,395.28. Following the sale, the insider now directly owns 942,467 shares of the company’s stock, valued at approximately $26,615,268.08. The disclosure for this sale can be found here. Insiders have sold a total of 471,886 shares of company stock valued at $12,541,056 in the last ninety days. Insiders own 62.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in Reata Pharmaceuticals during the first quarter valued at approximately $483,000. Teachers Advisors LLC raised 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 valued at $221,000 after buying an additional 1,148 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Reata Pharmaceuticals during the first quarter valued at approximately $395,000. State Street Corp raised 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 valued at $2,191,000 after buying an additional 4,879 shares during the last quarter. Finally, King Luther Capital Management Corp acquired a new stake in Reata Pharmaceuticals during the first quarter valued at approximately $1,268,000. 21.85% of the stock is 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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