Reata Pharmaceuticals (NASDAQ:RETA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note 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. “

Several other brokerages have also commented on RETA. Cantor Fitzgerald began coverage on Reata Pharmaceuticals in a research note on Thursday, August 23rd. They set an “overweight” rating and a $90.00 price target for the company. Robert W. Baird upped their price target on Reata Pharmaceuticals from $47.00 to $92.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 24th. Citigroup upped their price target on Reata Pharmaceuticals from $76.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Leerink Swann upped their price target on Reata Pharmaceuticals from $64.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Finally, BidaskClub upgraded 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 given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $90.86.

Shares of NASDAQ:RETA opened at $84.15 on Tuesday. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of -0.47. Reata Pharmaceuticals has a 12 month low of $19.31 and a 12 month high of $99.50.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($1.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.34). The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $9.11 million. research analysts forecast that Reata Pharmaceuticals will post -2.53 EPS for the current year.

In related news, Director James Edward Bass bought 888 shares of the stock in a transaction dated Wednesday, July 25th. The stock was acquired at an average price of $78.34 per share, for a total transaction of $69,565.92. Following the completion of the purchase, the director now owns 51,543 shares in the company, valued at $4,037,878.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Keith Wayne Ward sold 4,750 shares of the stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $36.62, for a total value of $173,945.00. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at approximately $173,945. The disclosure for this sale can be found here. 31.69% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Reata Pharmaceuticals by 26.2% in 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 in the last quarter. Emerald Advisers Inc. PA grew 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 valued at $19,077,000 after buying an additional 51,767 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in shares of Reata Pharmaceuticals by 3.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 486,741 shares of the company’s stock valued at $17,021,000 after buying an additional 15,627 shares in the last quarter. Prosight Management LP grew 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 valued at $6,107,000 after buying an additional 124,853 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Reata Pharmaceuticals in the second quarter valued at about $6,962,000. Institutional investors and hedge funds own 46.63% of the company’s stock.

About Reata Pharmaceuticals

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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