Reata Pharmaceuticals (RETA) Lowered to “Sell” at Zacks Investment Research

Reata Pharmaceuticals (NASDAQ:RETA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

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 a number of other research reports. Cowen reaffirmed a “buy” rating on shares of Reata Pharmaceuticals in a research report on Thursday, December 14th. ValuEngine cut shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. BidaskClub cut shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $47.00 price objective on shares of Reata Pharmaceuticals in a research report on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Reata Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $54.71.

Shares of Reata Pharmaceuticals (NASDAQ:RETA) opened at $26.73 on Friday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of -0.15. Reata Pharmaceuticals has a 1-year low of $19.48 and a 1-year high of $40.88.

In other Reata Pharmaceuticals news, Director Cpmg Inc purchased 200,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was bought at an average price of $24.79 per share, with a total value of $4,958,000.00. Following the transaction, the director now directly owns 113 shares of the company’s stock, valued at approximately $2,801.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James W. Traweek, Jr. purchased 121,725 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was acquired at an average cost of $24.88 per share, with a total value of $3,028,518.00. Following the transaction, the insider now directly owns 35 shares in the company, valued at $870.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 409,925 shares of company stock valued at $10,359,964 in the last ninety days. 44.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of RETA. Schwab Charles Investment Management Inc. boosted its position in Reata Pharmaceuticals by 44.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 27,200 shares of the company’s stock valued at $861,000 after buying an additional 8,400 shares during the period. Bank of New York Mellon Corp boosted its position in Reata Pharmaceuticals by 52.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 33,959 shares of the company’s stock valued at $1,074,000 after buying an additional 11,746 shares during the period. Swiss National Bank purchased a new position in Reata Pharmaceuticals in the 2nd quarter valued at approximately $440,000. Wells Fargo & Company MN boosted its position in Reata Pharmaceuticals by 37.4% in the 2nd quarter. Wells Fargo & Company MN now owns 5,591 shares of the company’s stock valued at $176,000 after buying an additional 1,521 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Reata Pharmaceuticals by 29.1% in the 2nd quarter. Alliancebernstein L.P. now owns 14,200 shares of the company’s stock valued at $449,000 after buying an additional 3,200 shares during the period. 29.49% of the stock is owned by institutional investors.

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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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