Reata Pharmaceuticals (NASDAQ:RETA) PT Raised to $40.00 at Robert W. Baird

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) had its price objective raised by equities researchers at Robert W. Baird to $40.00 in a report released on Tuesday, Stock Target Advisor reports. Robert W. Baird’s target price points to a potential upside of 5.04% from the company’s previous close.

Several other research analysts have also recently issued reports on RETA. StockNews.com began coverage on Reata Pharmaceuticals in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Guggenheim began coverage on Reata Pharmaceuticals in a research note on Wednesday, October 19th. They issued a “buy” rating and a $75.00 price target for the company. Barclays increased their price target on Reata Pharmaceuticals from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 9th. Citigroup upped their price objective on Reata Pharmaceuticals from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Finally, The Goldman Sachs Group upped their price objective on Reata Pharmaceuticals from $76.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.75.

Reata Pharmaceuticals Price Performance

Shares of RETA opened at $38.08 on Tuesday. The company has a market cap of $1.39 billion, a P/E ratio of -4.45 and a beta of 1.15. The stock has a fifty day moving average price of $30.07 and a 200 day moving average price of $29.13. Reata Pharmaceuticals has a 12 month low of $18.47 and a 12 month high of $95.37.

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($2.16) EPS for the quarter, topping analysts’ consensus estimates of ($2.35) by $0.19. The firm had revenue of $0.54 million during the quarter, compared to the consensus estimate of $1.43 million. Reata Pharmaceuticals had a negative return on equity of 322.32% and a negative net margin of 9,897.91%. As a group, research analysts anticipate that Reata Pharmaceuticals will post -8.37 earnings per share for the current year.

Institutional Investors Weigh In On Reata Pharmaceuticals

Several hedge funds have recently modified their holdings of RETA. DekaBank Deutsche Girozentrale lifted its holdings in shares of Reata Pharmaceuticals by 9.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 16,640 shares of the company’s stock valued at $514,000 after purchasing an additional 1,500 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of Reata Pharmaceuticals during the first quarter valued at $500,000. Arizona State Retirement System purchased a new stake in shares of Reata Pharmaceuticals during the first quarter valued at $237,000. Quadrant Capital Group LLC lifted its holdings in shares of Reata Pharmaceuticals by 29.2% during the first quarter. Quadrant Capital Group LLC now owns 25,882 shares of the company’s stock valued at $848,000 after purchasing an additional 5,856 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Reata Pharmaceuticals by 7.5% during the first quarter. Swiss National Bank now owns 63,300 shares of the company’s stock valued at $2,074,000 after purchasing an additional 4,400 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.

About Reata Pharmaceuticals

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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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