Reata Pharmaceuticals (NASDAQ:RETA) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of Reata Pharmaceuticals (NASDAQ:RETA) from a buy rating to a hold rating in a research note published on Friday, ValuEngine reports.

Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Reata Pharmaceuticals from a hold rating to a sell rating in a research report on Thursday, July 11th. Citigroup reissued a buy rating on shares of Reata Pharmaceuticals in a research report on Thursday, September 26th. BidaskClub raised Reata Pharmaceuticals from a sell rating to a hold rating in a research report on Friday. Finally, National Securities assumed coverage on Reata Pharmaceuticals in a research report on Thursday, September 26th. They issued a buy rating and a $130.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Reata Pharmaceuticals currently has an average rating of Hold and an average price target of $141.33.

NASDAQ RETA traded up $9.83 during trading hours on Friday, hitting $95.81. The company’s stock had a trading volume of 739,021 shares, compared to its average volume of 299,280. Reata Pharmaceuticals has a 12 month low of $47.50 and a 12 month high of $104.53. The company’s 50 day simple moving average is $82.90 and its two-hundred day simple moving average is $85.25.

Reata Pharmaceuticals (NASDAQ:RETA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.02). Reata Pharmaceuticals had a negative return on equity of 3,282.73% and a negative net margin of 410.38%. The business had revenue of $7.83 million during the quarter, compared to the consensus estimate of $7.76 million. On average, equities analysts predict that Reata Pharmaceuticals will post -4.56 earnings per share for the current fiscal year.

In other news, CFO Jason Douglas Wilson sold 4,000 shares of Reata Pharmaceuticals stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $72.68, for a total transaction of $290,720.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Elaine Castellanos sold 2,000 shares of Reata Pharmaceuticals stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the transaction, the insider now directly owns 4,138 shares in the company, valued at $351,730. The disclosure for this sale can be found here. Insiders sold 73,000 shares of company stock worth $6,255,710 over the last three months. Insiders own 34.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of RETA. Resources Investment Advisors LLC. purchased a new position in shares of Reata Pharmaceuticals during the 2nd quarter valued at about $25,000. Meadow Creek Investment Management LLC lifted its position in shares of Reata Pharmaceuticals by 71.4% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 140 shares in the last quarter. Glen Harbor Capital Management LLC lifted its position in shares of Reata Pharmaceuticals by 71.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 408 shares of the company’s stock valued at $39,000 after buying an additional 170 shares in the last quarter. Optimum Investment Advisors purchased a new position in shares of Reata Pharmaceuticals during the 2nd quarter valued at about $76,000. Finally, SG3 Management LLC purchased a new position in shares of Reata Pharmaceuticals during the 1st quarter valued at about $128,000. 58.47% of the stock is currently owned by hedge funds and other institutional investors.

About Reata Pharmaceuticals

Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl (Bard) for the treatment of patients with chronic kidney disease caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; and omaveloxolone that is Phase II clinical trial for the treatment of patients with Friedreich's ataxia It is also developing RTA 901, which completed Phase 1 clinical trials for the treatment of orphan neurological indications; and RORgT Inhibitors that are in the preclinical development phase for the potential treatment of a range of autoimmune, inflammatory, and fibrotic diseases.

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