Reata Pharmaceuticals (NASDAQ:RETA) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Reata Pharmaceuticals (NASDAQ:RETA) from a hold rating to a buy rating in a research report released on Wednesday morning, BidAskClub reports.

A number of other analysts have also recently weighed in on RETA. Cantor Fitzgerald reduced their price target on Reata Pharmaceuticals from $275.00 to $169.00 in a research report on Tuesday, August 11th. Stifel Nicolaus reduced their price target on Reata Pharmaceuticals from $280.00 to $225.00 and set a buy rating for the company in a research report on Monday, August 10th. Citigroup reduced their price target on Reata Pharmaceuticals from $254.00 to $244.00 and set a buy rating for the company in a research report on Tuesday, August 11th. Finally, ValuEngine raised Reata Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Tuesday, October 13th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $248.50.

RETA opened at $117.28 on Wednesday. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -10.93 and a beta of 1.64. Reata Pharmaceuticals has a 1 year low of $88.17 and a 1 year high of $257.96. The stock has a fifty day moving average price of $104.47 and a 200 day moving average price of $135.73.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings results on Monday, August 10th. The company reported ($2.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.22) by $0.19. Reata Pharmaceuticals had a negative return on equity of 211.27% and a negative net margin of 2,237.00%. The company had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $1.46 million. The company’s quarterly revenue was down 60.3% compared to the same quarter last year. As a group, research analysts forecast that Reata Pharmaceuticals will post -8.03 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. raised its position in shares of Reata Pharmaceuticals by 3,160.0% in the second quarter. Advisor Group Holdings Inc. now owns 163 shares of the company’s stock valued at $26,000 after buying an additional 158 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Reata Pharmaceuticals by 15.8% during the second quarter. Great West Life Assurance Co. Can now owns 1,581 shares of the company’s stock worth $244,000 after acquiring an additional 216 shares in the last quarter. GM Advisory Group Inc. grew its position in Reata Pharmaceuticals by 8.7% in the 2nd quarter. GM Advisory Group Inc. now owns 3,043 shares of the company’s stock worth $475,000 after purchasing an additional 243 shares in the last quarter. Arizona State Retirement System grew its position in Reata Pharmaceuticals by 5.0% in the 2nd quarter. Arizona State Retirement System now owns 5,355 shares of the company’s stock worth $835,000 after purchasing an additional 253 shares in the last quarter. Finally, Strs Ohio grew its position in Reata Pharmaceuticals by 6.8% in the 2nd quarter. Strs Ohio now owns 4,068 shares of the company’s stock worth $634,000 after purchasing an additional 258 shares in the last quarter. 68.25% of the stock is currently owned by institutional investors.

Reata Pharmaceuticals Company Profile

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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Analyst Recommendations for Reata Pharmaceuticals (NASDAQ:RETA)

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