ValuEngine lowered shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) from a hold rating to a sell rating in a research note released on Tuesday.
Other analysts also recently issued research reports about the company. Ladenburg Thalmann Financial Services reaffirmed a buy rating and set a $61.00 price objective (up previously from $55.00) on shares of Reata Pharmaceuticals in a research note on Wednesday, July 26th. Robert W. Baird reaffirmed an outperform rating and set a $47.00 price objective (up previously from $43.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Jefferies Group LLC reaffirmed a buy rating and set a $44.00 price objective on shares of Reata Pharmaceuticals in a research note on Friday, October 6th. Piper Jaffray Companies raised their price objective on Reata Pharmaceuticals from $53.00 to $60.00 and gave the stock a buy rating in a research note on Monday, July 24th. Finally, Zacks Investment Research downgraded Reata Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $54.71.
Shares of Reata Pharmaceuticals (RETA) traded down 0.84% on Tuesday, hitting $32.99. The stock had a trading volume of 24,155 shares. The firm has a 50 day moving average price of $30.32 and a 200 day moving average price of $27.46. The company’s market capitalization is $861.14 million. Reata Pharmaceuticals has a one year low of $18.51 and a one year high of $41.60.
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In other news, Director James Edward Bass bought 8,064 shares of the stock in a transaction on Tuesday, August 1st. The stock was purchased at an average price of $31.00 per share, for a total transaction of $249,984.00. Following the acquisition, the director now owns 67,411 shares in the company, valued at $2,089,741. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 62.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in Reata Pharmaceuticals by 20.8% during the 2nd quarter. California State Teachers Retirement System now owns 15,125 shares of the company’s stock worth $479,000 after purchasing an additional 2,600 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Reata Pharmaceuticals by 102.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,343 shares of the company’s stock worth $233,000 after purchasing an additional 3,715 shares in the last quarter. State Street Corp increased its holdings in Reata Pharmaceuticals by 4.9% during the 2nd quarter. State Street Corp now owns 108,212 shares of the company’s stock worth $3,422,000 after purchasing an additional 5,094 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in Reata Pharmaceuticals during the 2nd quarter worth about $249,000. Finally, FMR LLC increased its holdings in Reata Pharmaceuticals by 74.4% during the 2nd quarter. FMR LLC now owns 414,491 shares of the company’s stock worth $13,114,000 after purchasing an additional 176,885 shares in the last quarter. Hedge funds and other institutional investors own 15.56% of the company’s stock.
About Reata Pharmaceuticals
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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