Reata Pharmaceuticals Inc (NASDAQ:RETA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

Several other brokerages also recently issued reports on RETA. Cowen and Company initiated coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They issued an “outperform” rating and a $22.00 price target for the company. Piper Jaffray Cos. initiated coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They issued an “overweight” rating and a $33.00 price target for the company. Finally, Citigroup Inc. initiated coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They issued a “buy” rating and a $32.00 price target for the company.

Reata Pharmaceuticals (NASDAQ:RETA) opened at 30.05 on Tuesday. The company’s market capitalization is $670.87 million. The company has a 50 day moving average price of $19.96 and a 200-day moving average price of $19.13. Reata Pharmaceuticals has a 52 week low of $11.03 and a 52 week high of $32.22.

Reata Pharmaceuticals (NASDAQ:RETA) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company earned $12.40 million during the quarter. On average, equities analysts anticipate that Reata Pharmaceuticals will post ($0.54) earnings per share for the current fiscal year.

In other news, insider Colin John Meyer acquired 7,000 shares of Reata Pharmaceuticals stock in a transaction dated Tuesday, August 16th. The stock was bought at an average cost of $16.26 per share, with a total value of $113,820.00. Following the completion of the transaction, the insider now directly owns 27,172 shares of the company’s stock, valued at $441,816.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cpmg Inc acquired 73,403 shares of Reata Pharmaceuticals stock in a transaction dated Monday, June 27th. The shares were purchased at an average cost of $19.26 per share, with a total value of $1,413,741.78. Following the completion of the transaction, the director now directly owns 113 shares of the company’s stock, valued at $2,176.38. The disclosure for this purchase can be found here.

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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