Reata Pharmaceuticals, Inc. (NASDAQ:RETA)‘s stock had its “outperform” rating reissued by stock analysts at Robert W. Baird in a research note issued on Tuesday, July 25th. They currently have a $47.00 price objective on the stock, up from their prior price objective of $43.00. Robert W. Baird’s price target indicates a potential upside of 58.94% from the company’s previous close.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Reata Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. Citigroup Inc. upped their price objective on Reata Pharmaceuticals from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Reata Pharmaceuticals in a research note on Tuesday, April 4th. ValuEngine raised Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 27th. Finally, Ladenburg Thalmann Financial Services started coverage on Reata Pharmaceuticals in a research note on Thursday, April 13th. They set a “buy” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $55.83.
Shares of Reata Pharmaceuticals (RETA) traded up 1.52% on Tuesday, reaching $30.02. The company had a trading volume of 39,105 shares. Reata Pharmaceuticals has a 52 week low of $15.17 and a 52 week high of $41.60. The firm’s market capitalization is $671.40 million. The company’s 50-day moving average price is $30.77 and its 200 day moving average price is $25.85.
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In other news, major shareholder A/S Novo sold 61,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $25.11, for a total transaction of $1,531,710.00. Following the completion of the transaction, the insider now directly owns 642,405 shares of the company’s stock, valued at approximately $16,130,789.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Edward Bass bought 8,064 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average cost of $31.00 per share, with a total value of $249,984.00. Following the completion of the purchase, the director now owns 67,411 shares in the company, valued at approximately $2,089,741. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 471,886 shares of company stock valued at $12,541,056. Company insiders own 62.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Emerald Advisers Inc. PA increased its position in shares of Reata Pharmaceuticals by 9.8% in the second quarter. Emerald Advisers Inc. PA now owns 406,426 shares of the company’s stock worth $12,859,000 after buying an additional 36,227 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in Reata Pharmaceuticals by 7.0% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 293,927 shares of the company’s stock valued at $9,300,000 after buying an additional 19,235 shares during the last quarter. FMR LLC increased its position in Reata Pharmaceuticals by 40.6% in the first quarter. FMR LLC now owns 237,606 shares of the company’s stock valued at $5,382,000 after buying an additional 68,600 shares during the last quarter. State Street Corp increased its position in Reata Pharmaceuticals by 5.1% in the fourth quarter. State Street Corp now owns 100,414 shares of the company’s stock valued at $2,191,000 after buying an additional 4,879 shares during the last quarter. Finally, Keel Point LLC increased its position in Reata Pharmaceuticals by 45.3% in the first quarter. Keel Point LLC now owns 79,071 shares of the company’s stock valued at $1,791,000 after buying an additional 24,639 shares during the last quarter. 41.63% of the stock is owned by institutional investors and hedge funds.
Reata Pharmaceuticals Company Profile
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.
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