Reata Pharmaceuticals, Inc. (RETA) Research Coverage Started at Leerink Swann
Leerink Swann assumed coverage on shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) in a report published on Wednesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $43.00 target price on the stock. Leerink Swann also issued estimates for Reata Pharmaceuticals’ Q3 2017 earnings at ($0.41) EPS, Q4 2017 earnings at ($0.48) EPS, FY2017 earnings at ($1.73) EPS, FY2018 earnings at ($2.01) EPS, FY2019 earnings at ($1.95) EPS, FY2020 earnings at ($0.80) EPS and FY2021 earnings at $0.48 EPS.
Several other brokerages have also weighed in on RETA. Zacks Investment Research lowered Reata Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, July 18th. Piper Jaffray Companies upped their target price on Reata Pharmaceuticals from $53.00 to $60.00 and gave the stock a buy rating in a research report on Monday, July 24th. Citigroup Inc. reissued a buy rating and set a $87.00 price objective (up previously from $39.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. Ladenburg Thalmann Financial Services reissued a buy rating and set a $61.00 price objective (up previously from $55.00) on shares of Reata Pharmaceuticals in a report on Wednesday, July 26th. Finally, Jefferies Group LLC began coverage on Reata Pharmaceuticals in a report on Wednesday, August 30th. They set a buy rating and a $44.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $51.63.
Shares of Reata Pharmaceuticals (NASDAQ:RETA) traded up 1.61% during midday trading on Wednesday, hitting $31.01. The company had a trading volume of 469,489 shares. The stock’s 50-day moving average price is $28.57 and its 200-day moving average price is $26.88. Reata Pharmaceuticals has a 12 month low of $18.51 and a 12 month high of $41.60. The company’s market cap is $809.45 million.
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In other Reata Pharmaceuticals news, Director James Edward Bass bought 8,064 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average price of $31.00 per share, for a total transaction of $249,984.00. Following the purchase, the director now directly owns 67,411 shares in the company, valued at $2,089,741. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 62.40% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in RETA. FMR LLC lifted its position in shares of Reata Pharmaceuticals by 74.4% in the 2nd quarter. FMR LLC now owns 414,491 shares of the company’s stock worth $13,114,000 after acquiring an additional 176,885 shares during the period. Vanguard Group Inc. raised its holdings in shares of Reata Pharmaceuticals by 109.6% in the 2nd quarter. Vanguard Group Inc. now owns 295,540 shares of the company’s stock worth $9,350,000 after buying an additional 154,515 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Reata Pharmaceuticals by 78.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 232,562 shares of the company’s stock worth $7,359,000 after buying an additional 101,969 shares in the last quarter. RGT Capital Management Ltd. acquired a new position in shares of Reata Pharmaceuticals in the 1st quarter worth approximately $1,347,000. Finally, King Luther Capital Management Corp acquired a new position in shares of Reata Pharmaceuticals in the 1st quarter worth approximately $1,268,000. Institutional investors own 21.85% of the company’s stock.
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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