Citigroup Inc. restated their buy rating on shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) in a report issued on Tuesday, July 25th, MarketBeat reports. They currently have a $87.00 price objective on the stock, up from their previous price objective of $39.00.
Several other brokerages also recently weighed in on RETA. ValuEngine upgraded Reata Pharmaceuticals from a sell rating to a hold rating in a research note on Saturday, May 27th. Piper Jaffray Companies reiterated an overweight rating and issued a $48.00 target price on shares of Reata Pharmaceuticals in a research note on Tuesday, April 4th. Zacks Investment Research downgraded Reata Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, May 13th. Finally, Ladenburg Thalmann Financial Services began coverage on Reata Pharmaceuticals in a research note on Thursday, April 13th. They issued a buy rating and a $55.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Reata Pharmaceuticals has an average rating of Buy and a consensus target price of $55.83.
Shares of Reata Pharmaceuticals (NASDAQ RETA) opened at 27.86 on Tuesday. The stock’s 50 day moving average price is $31.09 and its 200-day moving average price is $26.12. The stock’s market cap is $623.09 million. Reata Pharmaceuticals has a 52 week low of $15.87 and a 52 week high of $41.60.
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In related news, Director James Edward Bass purchased 8,064 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was bought at an average cost of $31.00 per share, with a total value of $249,984.00. Following the completion of the acquisition, the director now directly owns 67,411 shares in the company, valued at approximately $2,089,741. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder A/S Novo sold 23,327 shares of Reata Pharmaceuticals stock in a transaction on Monday, June 5th. The shares were sold at an average price of $28.67, for a total value of $668,785.09. Following the completion of the sale, the insider now directly owns 942,467 shares of the company’s stock, valued at approximately $27,020,528.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 471,886 shares of company stock valued at $12,541,056. 62.40% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of RETA. Nationwide Fund Advisors increased its stake in Reata Pharmaceuticals by 38.1% in the second quarter. Nationwide Fund Advisors now owns 4,368 shares of the company’s stock worth $138,000 after buying an additional 1,206 shares during the period. Wells Fargo & Company MN boosted its position in shares of Reata Pharmaceuticals by 37.4% in the second quarter. Wells Fargo & Company MN now owns 5,591 shares of the company’s stock worth $176,000 after buying an additional 1,521 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Reata Pharmaceuticals during the second quarter worth approximately $249,000. Russell Investments Group Ltd. bought a new position in shares of Reata Pharmaceuticals during the second quarter worth approximately $254,000. Finally, Rhumbline Advisers bought a new position in shares of Reata Pharmaceuticals during the second quarter worth approximately $303,000. 41.76% of the stock is owned by hedge funds and other institutional investors.
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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