Reata Pharmaceuticals, Inc. (RETA) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) from a strong sell rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Reata Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is engaged in identifying, developing and commercializing product candidates which modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress and inflammation to address the unmet medical needs of serious or life-threatening diseases. Reata Pharmaceuticals, Inc. is based in Irving, United States. “

RETA has been the subject of several other reports. Jefferies Group LLC started coverage on shares of Reata Pharmaceuticals in a research report on Wednesday, August 30th. They set a buy rating and a $44.00 price objective for the company. Leerink Swann initiated coverage on shares of Reata Pharmaceuticals in a research report on Wednesday, September 13th. They set an outperform rating and a $43.00 price objective for the company. ValuEngine cut shares of Reata Pharmaceuticals from a hold rating to a sell rating in a research report on Monday, September 11th. Citigroup Inc. reiterated a buy rating and set a $87.00 price target (up from $39.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus reiterated a buy rating and set a $50.00 price target (up from $38.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Reata Pharmaceuticals has a consensus rating of Buy and a consensus price target of $54.71.

Reata Pharmaceuticals (NASDAQ:RETA) traded up 1.44% during mid-day trading on Tuesday, hitting $30.28. 40,811 shares of the stock were exchanged. The stock’s market cap is $790.40 million. Reata Pharmaceuticals has a 52-week low of $18.51 and a 52-week high of $41.60. The stock’s 50 day moving average is $31.26 and its 200 day moving average is $28.10.

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In other Reata Pharmaceuticals news, Director James Edward Bass acquired 8,064 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average price of $31.00 per share, for a total transaction of $249,984.00. Following the completion of the acquisition, the director now owns 67,411 shares of the company’s stock, valued at approximately $2,089,741. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 62.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of RETA. Bank of New York Mellon Corp lifted its stake in Reata Pharmaceuticals by 18.1% in the first quarter. Bank of New York Mellon Corp now owns 22,213 shares of the company’s stock worth $503,000 after acquiring an additional 3,407 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Reata Pharmaceuticals in the first quarter worth approximately $483,000. FMR LLC lifted its stake in Reata Pharmaceuticals by 40.6% in the first quarter. FMR LLC now owns 237,606 shares of the company’s stock worth $5,382,000 after acquiring an additional 68,600 shares during the last quarter. Geode Capital Management LLC lifted its stake in Reata Pharmaceuticals by 19.5% in the first quarter. Geode Capital Management LLC now owns 63,778 shares of the company’s stock worth $1,444,000 after acquiring an additional 10,397 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Reata Pharmaceuticals in the first quarter worth approximately $559,000. Institutional investors own 15.56% 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.

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