Citigroup Inc. Reiterates Buy Rating for Reata Pharmaceuticals, Inc. (NASDAQ:RETA)

Citigroup Inc. restated their buy rating on shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) in a research note issued to investors on Tuesday, July 25th, Marketbeat.com reports. The brokerage currently has a $87.00 target price on the stock, up from their previous target price of $39.00.

Several other analysts have also weighed in on the stock. Piper Jaffray Companies reaffirmed an overweight rating and set a $48.00 price objective on shares of Reata Pharmaceuticals in a report on Tuesday, March 28th. Ladenburg Thalmann Financial Services started coverage on shares of Reata Pharmaceuticals in a report on Thursday, April 13th. They issued a buy rating and a $55.00 price target for the company. Zacks Investment Research lowered shares of Reata Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, May 13th. Finally, ValuEngine raised shares of Reata Pharmaceuticals from a sell rating to a hold rating in a report on Saturday, May 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $55.83.

Reata Pharmaceuticals (NASDAQ RETA) traded up 1.42% during trading on Tuesday, reaching $29.99. The company had a trading volume of 20,561 shares. The firm’s 50 day moving average is $30.77 and its 200-day moving average is $25.85. Reata Pharmaceuticals has a 12 month low of $15.17 and a 12 month high of $41.60. The company’s market capitalization is $670.73 million.

In other Reata Pharmaceuticals news, Director James Edward Bass purchased 8,064 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was purchased at an average cost of $31.00 per share, for a total transaction of $249,984.00. Following the transaction, the director now owns 67,411 shares in the company, valued at approximately $2,089,741. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder A/S Novo sold 23,327 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $28.67, for a total transaction of $668,785.09. Following the completion of the transaction, the insider now owns 942,467 shares of the company’s stock, valued at $27,020,528.89. The disclosure for this sale can be found here. Insiders have sold a total of 471,886 shares of company stock worth $12,541,056 over the last 90 days. 62.40% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of RETA. Russell Investments Group Ltd. purchased a new position in Reata Pharmaceuticals during the second quarter worth $254,000. Rhumbline Advisers purchased a new position in Reata Pharmaceuticals during the second quarter worth $303,000. Teachers Advisors LLC raised its position in Reata Pharmaceuticals by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock worth $221,000 after buying an additional 1,148 shares during the last quarter. Atlantic Trust Group LLC purchased a new position in Reata Pharmaceuticals during the first quarter worth $285,000. Finally, Alps Advisors Inc. purchased a new position in Reata Pharmaceuticals during the second quarter worth $400,000. Institutional investors own 41.63% of the company’s stock.

About Reata Pharmaceuticals

Reata Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on identifying, developing and commercializing product candidates that modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a range of serious or life-threatening diseases.