Zacks: Reata Pharmaceuticals Inc. (RETA) Given Average Rating of “Strong Buy” by Analysts
Shares of Reata Pharmaceuticals Inc. (NASDAQ:RETA) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Analysts have set a 1-year consensus price objective of $33.00 for the company and are expecting that the company will post ($0.18) earnings per share for the current quarter, according to Zacks. Zacks has also given Reata Pharmaceuticals an industry rank of 109 out of 265 based on the ratings given to its competitors.
RETA has been the subject of several recent research reports. Piper Jaffray Cos. initiated coverage on Reata Pharmaceuticals in a research note on Monday, June 20th. They issued an “overweight” rating and a $33.00 price objective for the company. 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. 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. Finally, Zacks Investment Research upgraded Reata Pharmaceuticals from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Saturday, August 27th.
In other news, Director Jack Nielsen acquired 1,780 shares of Reata Pharmaceuticals stock in a transaction on Monday, August 22nd. The stock was bought at an average price of $17.00 per share, for a total transaction of $30,260.00. Following the completion of the purchase, the director now owns 1,780 shares in the company, valued at $30,260. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Kent Mcgaughy, Jr. acquired 308,220 shares of Reata Pharmaceuticals stock in a transaction on Thursday, August 18th. The stock was purchased at an average price of $17.08 per share, with a total value of $5,264,397.60. Following the purchase, the director now owns 25,004 shares of the company’s stock, valued at approximately $427,068.32. The disclosure for this purchase can be found here. Corporate insiders own 62.40% of the company’s stock.
A hedge fund recently bought a new stake in Reata Pharmaceuticals stock. Osborn Rohs Williams & Donohoe Ltd acquired a new position in shares of Reata Pharmaceuticals Inc. (NASDAQ:RETA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 47,000 shares of the company’s stock, valued at approximately $1,239,000. Osborn Rohs Williams & Donohoe Ltd owned approximately 0.21% of Reata Pharmaceuticals at the end of the most recent quarter. 69.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of Reata Pharmaceuticals (NASDAQ:RETA) opened at 24.41 on Friday. The firm’s market cap is $544.95 million. Reata Pharmaceuticals has a 52 week low of $11.03 and a 52 week high of $32.22. The stock’s 50 day moving average is $25.02 and its 200-day moving average is $20.44.
Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company earned $12.40 million during the quarter. On average, equities analysts predict that Reata Pharmaceuticals will post ($0.54) EPS for the current fiscal year.
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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