Reata Pharmaceuticals (NASDAQ:RETA) PT Lowered to $73.00

Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) had its price target reduced by The Goldman Sachs Group from $93.00 to $73.00 in a report issued on Tuesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 168.78% from the stock’s current price.

RETA has been the subject of a number of other research reports. StockNews.com assumed coverage on Reata Pharmaceuticals in a research note on Thursday, March 31st. They issued a “sell” rating for the company. LADENBURG THALM/SH SH dropped their price target on Reata Pharmaceuticals from $75.00 to $67.00 in a research note on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.17.

Shares of NASDAQ:RETA traded down $1.04 during trading on Tuesday, reaching $27.16. 9,522 shares of the company traded hands, compared to its average volume of 652,027. The firm has a market capitalization of $988.73 million, a price-to-earnings ratio of -3.27 and a beta of 1.25. Reata Pharmaceuticals has a 52-week low of $20.24 and a 52-week high of $153.41. The business’s fifty day moving average is $30.89 and its 200-day moving average is $39.06.

Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported ($2.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.26) by $0.23. The firm had revenue of $0.91 million during the quarter, compared to analyst estimates of $1.55 million. Reata Pharmaceuticals had a negative return on equity of 137.52% and a negative net margin of 2,650.72%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.86) earnings per share. On average, research analysts forecast that Reata Pharmaceuticals will post -8.34 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Mercantile Trust Co. raised its holdings in Reata Pharmaceuticals by 20.6% in the third quarter. First Mercantile Trust Co. now owns 721 shares of the company’s stock worth $73,000 after purchasing an additional 123 shares in the last quarter. FourThought Financial LLC increased its holdings in shares of Reata Pharmaceuticals by 58.0% during the third quarter. FourThought Financial LLC now owns 583 shares of the company’s stock valued at $58,000 after acquiring an additional 214 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Reata Pharmaceuticals by 1.9% during the third quarter. Principal Financial Group Inc. now owns 11,622 shares of the company’s stock valued at $1,170,000 after acquiring an additional 221 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Reata Pharmaceuticals by 60.1% during the third quarter. Macquarie Group Ltd. now owns 594 shares of the company’s stock valued at $60,000 after acquiring an additional 223 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. increased its holdings in shares of Reata Pharmaceuticals by 6.3% during the third quarter. Laurel Wealth Advisors Inc. now owns 4,217 shares of the company’s stock valued at $424,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 73.55% of the company’s stock.

Reata Pharmaceuticals Company Profile (Get Rating)

Reata Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, identifies, develops, and commercializes novel therapeutics for patients with serious or life-threatening diseases. The company is developing Phase 3 clinical trial programs, including bardoxolone methyl (bardoxolone) for the treatment of patients with chronic kidney disease (CKD) caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; omaveloxolone that is Phase II clinical trial to treat Friedreich's ataxia; and conduct Phase 2 study for various form of CKD, such as IgA nephropathy, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.

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