Reata Pharmaceuticals (NASDAQ:RETA) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. Leerink Swann raised their price target on Reata Pharmaceuticals from $64.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Cantor Fitzgerald started coverage on Reata Pharmaceuticals in a report on Thursday, August 23rd. They issued an “overweight” rating and a $90.00 price target for the company. Citigroup raised their price target on Reata Pharmaceuticals from $76.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Finally, Robert W. Baird raised their price target on Reata Pharmaceuticals from $47.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Reata Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $90.86.

Shares of RETA stock opened at $83.49 on Friday. Reata Pharmaceuticals has a 1-year low of $19.31 and a 1-year high of $99.50. The stock has a market cap of $2.57 billion, a P/E ratio of -41.95 and a beta of 2.69. The company has a debt-to-equity ratio of -0.47, a quick ratio of 3.09 and a current ratio of 3.09.

Reata Pharmaceuticals (NASDAQ:RETA) last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.34). The company had revenue of $7.57 million during the quarter, compared to the consensus estimate of $9.11 million. equities analysts anticipate that Reata Pharmaceuticals will post -2.53 earnings per share for the current fiscal year.

In other Reata Pharmaceuticals news, insider Elaine Castellanos sold 7,336 shares of the firm’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $50.81, for a total value of $372,742.16. Following the completion of the sale, the insider now owns 140 shares of the company’s stock, valued at $7,113.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James Edward Bass purchased 888 shares of the stock in a transaction on Wednesday, July 25th. The stock was acquired at an average cost of $78.34 per share, with a total value of $69,565.92. Following the acquisition, the director now owns 51,543 shares of the company’s stock, valued at approximately $4,037,878.62. The disclosure for this purchase can be found here. 31.69% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of RETA. BlackRock Inc. boosted its holdings in Reata Pharmaceuticals by 26.2% in the second quarter. BlackRock Inc. now owns 1,503,780 shares of the company’s stock worth $52,587,000 after acquiring an additional 311,924 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Reata Pharmaceuticals in the second quarter worth about $6,962,000. Prosight Management LP raised its stake in shares of Reata Pharmaceuticals by 72.2% in the first quarter. Prosight Management LP now owns 297,750 shares of the company’s stock worth $6,107,000 after purchasing an additional 124,853 shares during the last quarter. Northern Trust Corp raised its stake in shares of Reata Pharmaceuticals by 41.5% in the second quarter. Northern Trust Corp now owns 183,930 shares of the company’s stock worth $6,432,000 after purchasing an additional 53,946 shares during the last quarter. Finally, Emerald Advisers Inc. PA raised its stake in shares of Reata Pharmaceuticals by 10.5% in the second quarter. Emerald Advisers Inc. PA now owns 545,520 shares of the company’s stock worth $19,077,000 after purchasing an additional 51,767 shares during the last quarter. 46.63% of the stock is owned by institutional investors and hedge funds.

Reata Pharmaceuticals Company Profile

Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on identifying, developing, and commercializing therapeutics to address serious and life-threatening diseases with therapies by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl for the treatment of patients with chronic kidney disease caused by Alport syndrome; and for a form of pulmonary arterial hypertension associated with connective tissue disease.

Further Reading: Earnings Per Share

Analyst Recommendations for Reata Pharmaceuticals (NASDAQ:RETA)

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