Reata Pharmaceuticals (NASDAQ:RETA) Stock Price Up 6.2%

Reata Pharmaceuticals Inc (NASDAQ:RETA) shares rose 6.2% during mid-day trading on Thursday . The company traded as high as $103.74 and last traded at $103.45. Approximately 227,628 shares were traded during trading, a decline of 40% from the average daily volume of 378,295 shares. The stock had previously closed at $97.42.

RETA has been the topic of a number of recent research reports. BidaskClub raised Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, September 23rd. Citigroup dropped their price objective on Reata Pharmaceuticals from $254.00 to $244.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Stifel Nicolaus dropped their price objective on Reata Pharmaceuticals from $280.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, August 10th. BTIG Research assumed coverage on Reata Pharmaceuticals in a report on Tuesday, June 16th. They set a “buy” rating and a $237.00 price objective on the stock. Finally, Robert W. Baird restated a “buy” rating and issued a $268.00 target price on shares of Reata Pharmaceuticals in a research note on Friday, June 12th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $245.00.

The firm has a market capitalization of $3.48 billion, a P/E ratio of -9.08 and a beta of 1.61. The business has a 50 day simple moving average of $102.39 and a two-hundred day simple moving average of $139.38.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings data on Monday, August 10th. The company reported ($2.03) EPS for the quarter, beating the consensus estimate of ($2.22) by $0.19. The firm had revenue of $3.10 million for the quarter, compared to analyst estimates of $1.46 million. Reata Pharmaceuticals had a negative return on equity of 211.27% and a negative net margin of 2,237.00%. Reata Pharmaceuticals’s revenue for the quarter was down 60.3% compared to the same quarter last year. On average, analysts predict that Reata Pharmaceuticals Inc will post -8.03 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. increased its position in shares of Reata Pharmaceuticals by 3,160.0% during the 2nd quarter. Advisor Group Holdings Inc. now owns 163 shares of the company’s stock valued at $26,000 after purchasing an additional 158 shares during the last quarter. US Bancorp DE increased its position in shares of Reata Pharmaceuticals by 187.8% during the 1st quarter. US Bancorp DE now owns 705 shares of the company’s stock valued at $101,000 after purchasing an additional 460 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Reata Pharmaceuticals during the 2nd quarter valued at about $102,000. Ovata Capital Management Ltd bought a new position in shares of Reata Pharmaceuticals during the 2nd quarter valued at about $125,000. Finally, Great West Life Assurance Co. Can increased its position in shares of Reata Pharmaceuticals by 15.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 1,581 shares of the company’s stock valued at $244,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 68.25% of the company’s stock.

About Reata Pharmaceuticals (NASDAQ:RETA)

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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