Reata Pharmaceuticals Inc (NASDAQ:RETA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $30.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 15.79% from the stock’s previous close.

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 reports. Cowen and Company initiated coverage on Reata Pharmaceuticals in a research note on Monday, June 20th. They set an “outperform” rating and a $22.00 target price for the company. Piper Jaffray Cos. initiated coverage on Reata Pharmaceuticals in a research note on Monday, June 20th. They set an “overweight” rating and a $33.00 target price for the company. Finally, Citigroup Inc. initiated coverage on Reata Pharmaceuticals in a research note on Monday, June 20th. They set a “buy” rating and a $32.00 target price for the company.

Reata Pharmaceuticals (NASDAQ:RETA) opened at 25.91 on Wednesday. The stock has a 50 day moving average of $20.88 and a 200-day moving average of $19.40. Reata Pharmaceuticals has a 52-week low of $11.03 and a 52-week high of $32.22. The company’s market cap is $578.44 million.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings results 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, analysts forecast that Reata Pharmaceuticals will post ($0.54) EPS for the current year.

In other news, Director Jack Nielsen purchased 1,780 shares of Reata Pharmaceuticals stock in a transaction on Monday, August 22nd. The stock was purchased at an average price of $17.00 per share, with a total value of $30,260.00. Following the transaction, the director now directly owns 1,780 shares in the company, valued at approximately $30,260. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder James W. Traweek, Jr. purchased 164,600 shares of Reata Pharmaceuticals stock in a transaction on Thursday, June 30th. The shares were purchased at an average cost of $19.78 per share, with a total value of $3,255,788.00. Following the transaction, the insider now owns 35 shares in the company, valued at $692.30. 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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