Reata Pharmaceuticals (NASDAQ:RETA) PT Raised to $53.00

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) had its target price increased by research analysts at Citigroup from $51.00 to $53.00 in a research note issued on Wednesday, The Fly reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 40.47% from the stock’s current price.

Several other equities research analysts have also recently weighed in on RETA. StockNews.com assumed coverage on shares of Reata Pharmaceuticals in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Barclays upped their price target on shares of Reata Pharmaceuticals from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird lowered their price target on shares of Reata Pharmaceuticals from $37.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, August 9th. Finally, Guggenheim assumed coverage on shares of Reata Pharmaceuticals in a research report on Wednesday, October 19th. They issued a “buy” rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Reata Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $63.13.

Reata Pharmaceuticals Price Performance

Shares of RETA stock opened at $37.73 on Wednesday. The company has a market capitalization of $1.38 billion, a P/E ratio of -4.41 and a beta of 1.15. The company’s 50-day simple moving average is $28.72 and its two-hundred day simple moving average is $28.72. Reata Pharmaceuticals has a one year low of $18.47 and a one year high of $106.09.

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($2.16) EPS for the quarter, topping analysts’ consensus estimates of ($2.35) by $0.19. The business had revenue of $0.54 million for the quarter, compared to the consensus estimate of $1.43 million. Reata Pharmaceuticals had a negative net margin of 3,045.98% and a negative return on equity of 190.87%. On average, research analysts expect that Reata Pharmaceuticals will post -8.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Reata Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in Reata Pharmaceuticals by 3.4% during the first quarter. Wellington Management Group LLP now owns 4,396,539 shares of the company’s stock valued at $144,030,000 after acquiring an additional 143,562 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Reata Pharmaceuticals by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,643,082 shares of the company’s stock worth $86,587,000 after buying an additional 85,409 shares during the last quarter. Sofinnova Investments Inc. raised its holdings in shares of Reata Pharmaceuticals by 4.4% in the third quarter. Sofinnova Investments Inc. now owns 818,376 shares of the company’s stock worth $20,566,000 after buying an additional 34,525 shares during the last quarter. State Street Corp raised its holdings in shares of Reata Pharmaceuticals by 11.0% in the second quarter. State Street Corp now owns 741,713 shares of the company’s stock worth $22,541,000 after buying an additional 73,695 shares during the last quarter. Finally, Emerald Advisers LLC raised its holdings in shares of Reata Pharmaceuticals by 88.1% in the third quarter. Emerald Advisers LLC now owns 538,252 shares of the company’s stock worth $13,526,000 after buying an additional 252,071 shares during the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Reata Pharmaceuticals Company Profile

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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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