Reata Pharmaceuticals (RETA) Rating Reiterated by Leerink Swann
Reata Pharmaceuticals (NASDAQ:RETA)‘s stock had its “outperform” rating reaffirmed by equities researchers at Leerink Swann in a research report issued on Tuesday, Marketbeat.com reports. They currently have a $139.00 target price on the stock, up from their previous target price of $116.00. Leerink Swann’s price target points to a potential upside of 65.18% from the company’s current price.
Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday. Cantor Fitzgerald initiated coverage on shares of Reata Pharmaceuticals in a report on Thursday, August 23rd. They issued an “overweight” rating and a $90.00 price target on the stock. Citigroup upped their price target on shares of Reata Pharmaceuticals from $76.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Robert W. Baird upped their price objective on shares of Reata Pharmaceuticals from $47.00 to $92.00 and gave the company an “outperform” rating in a research note on Tuesday, July 24th. Finally, BidaskClub raised shares of Reata Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Reata Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $90.86.
Shares of NASDAQ RETA opened at $84.15 on Tuesday. Reata Pharmaceuticals has a 12-month low of $19.31 and a 12-month high of $99.50. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -42.29 and a beta of 2.69. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of -0.47.
In related news, insider Elaine Castellanos sold 7,336 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $50.81, for a total transaction of $372,742.16. Following the transaction, the insider now owns 140 shares of the company’s stock, valued at $7,113.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Edward Bass acquired 888 shares of Reata Pharmaceuticals stock in a transaction that occurred on Wednesday, July 25th. The shares were purchased at an average cost of $78.34 per share, for a total transaction of $69,565.92. Following the purchase, the director now directly 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. Corporate insiders own 31.69% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Reata Pharmaceuticals by 26.2% during the second quarter. BlackRock Inc. now owns 1,503,780 shares of the company’s stock valued at $52,587,000 after buying an additional 311,924 shares during the period. Emerald Advisers Inc. PA increased its position in Reata Pharmaceuticals by 10.5% during 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. Emerald Mutual Fund Advisers Trust increased its position in Reata Pharmaceuticals by 3.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 486,741 shares of the company’s stock worth $17,021,000 after purchasing an additional 15,627 shares during the last quarter. Prosight Management LP increased its position in Reata Pharmaceuticals by 72.2% during 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. Finally, Point72 Asset Management L.P. acquired a new position in Reata Pharmaceuticals during the second quarter worth approximately $6,962,000. 46.63% of the stock is currently 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.
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