ValuEngine Downgrades Reata Pharmaceuticals, Inc. (RETA) to Sell

Reata Pharmaceuticals, Inc. (NASDAQ:RETA) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday.

A number of other research analysts have also commented on RETA. Piper Jaffray Companies restated an “overweight” rating and issued a $53.00 price objective (up from $48.00) on shares of Reata Pharmaceuticals in a research note on Monday, June 5th. Zacks Investment Research lowered shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Citigroup Inc. restated a “buy” rating and issued a $87.00 price objective (up from $39.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective (up from $38.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Finally, Robert W. Baird restated an “outperform” rating and issued a $47.00 price objective (up from $43.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $52.86.

Shares of Reata Pharmaceuticals (RETA) opened at 29.77 on Monday. Reata Pharmaceuticals has a 12-month low of $18.51 and a 12-month high of $41.60. The firm has a 50-day moving average of $28.88 and a 200 day moving average of $26.77. The stock’s market capitalization is $777.09 million.

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In other news, Director James Edward Bass purchased 8,064 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average cost of $31.00 per share, for a total transaction of $249,984.00. Following the completion of the purchase, the director now directly owns 67,411 shares in the company, valued at approximately $2,089,741. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 62.40% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of Reata Pharmaceuticals during the first quarter worth about $483,000. Teachers Advisors LLC increased its stake in shares of Reata Pharmaceuticals by 12.8% during the fourth quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock worth $221,000 after acquiring an additional 1,148 shares during the period. Fifth Third Bancorp acquired a new position in shares of Reata Pharmaceuticals during the first quarter worth about $395,000. Atlantic Trust Group LLC acquired a new position in shares of Reata Pharmaceuticals during the first quarter worth about $285,000. Finally, King Luther Capital Management Corp acquired a new position in shares of Reata Pharmaceuticals during the first quarter worth about $1,268,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Reata Pharmaceuticals Company Profile

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.

Analyst Recommendations for Reata Pharmaceuticals (NASDAQ:RETA)

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