Reata Pharmaceuticals (NASDAQ:RETA) Downgraded by BidaskClub

BidaskClub cut shares of Reata Pharmaceuticals (NASDAQ:RETA) from a hold rating to a sell rating in a research report sent to investors on Friday morning, BidAskClub reports.

A number of other research analysts also recently commented on RETA. Citigroup boosted their target price on Reata Pharmaceuticals from $190.00 to $194.00 and gave the company a buy rating in a research note on Thursday, August 8th. Zacks Investment Research downgraded Reata Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. Reata Pharmaceuticals currently has a consensus rating of Buy and an average target price of $141.50.

Shares of NASDAQ RETA opened at $75.74 on Friday. The business’s 50-day moving average price is $87.20 and its two-hundred day moving average price is $87.10. The company has a debt-to-equity ratio of 5.23, a current ratio of 4.24 and a quick ratio of 5.19. Reata Pharmaceuticals has a one year low of $47.50 and a one year high of $104.53. The company has a market capitalization of $2.20 billion, a P/E ratio of -26.39 and a beta of 2.31.

Reata Pharmaceuticals (NASDAQ:RETA) last issued its earnings results on Thursday, August 8th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.02). Reata Pharmaceuticals had a negative net margin of 410.38% and a negative return on equity of 3,282.73%. The firm had revenue of $7.83 million during the quarter, compared to analysts’ expectations of $7.76 million. On average, equities analysts anticipate that Reata Pharmaceuticals will post -4.56 EPS for the current year.

In other news, CFO Jason Douglas Wilson sold 4,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $83.54, for a total transaction of $334,160.00. Following the completion of the sale, the chief financial officer now owns 4,000 shares in the company, valued at approximately $334,160. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Elaine Castellanos sold 2,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $85.20, for a total value of $170,400.00. Following the sale, the insider now owns 4,138 shares of the company’s stock, valued at approximately $352,557.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,000 shares of company stock valued at $1,133,840. 34.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RETA. Price T Rowe Associates Inc. MD boosted its stake in shares of Reata Pharmaceuticals by 55.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 650,391 shares of the company’s stock worth $61,364,000 after acquiring an additional 231,369 shares in the last quarter. Cormorant Asset Management LP boosted its stake in shares of Reata Pharmaceuticals by 31.1% during the 2nd quarter. Cormorant Asset Management LP now owns 806,150 shares of the company’s stock worth $76,060,000 after acquiring an additional 191,150 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Reata Pharmaceuticals during the 1st quarter worth about $11,462,000. Nuveen Asset Management LLC boosted its stake in shares of Reata Pharmaceuticals by 2,708.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 135,312 shares of the company’s stock worth $12,767,000 after acquiring an additional 130,494 shares in the last quarter. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Reata Pharmaceuticals during the 1st quarter worth about $9,908,000. Institutional investors own 54.71% of the company’s stock.

About Reata Pharmaceuticals

Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl (Bard) for the treatment of patients with chronic kidney disease caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; and omaveloxolone that is Phase II clinical trial for the treatment of patients with Friedreich's ataxia It is also developing RTA 901, which completed Phase 1 clinical trials for the treatment of orphan neurological indications; and RORgT Inhibitors that are in the preclinical development phase for the potential treatment of a range of autoimmune, inflammatory, and fibrotic diseases.

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