Reata Pharmaceuticals, Inc. (NASDAQ:RETA) shares dropped 4.2% on Monday . The company traded as low as $24.31 and last traded at $27.56. Approximately 170,700 shares changed hands during mid-day trading, an increase of 49% from the average daily volume of 114,689 shares. The stock had previously closed at $26.44.

RETA has been the topic of a number of research reports. Zacks Investment Research lowered Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Piper Jaffray Companies increased their price objective on Reata Pharmaceuticals from $53.00 to $60.00 and gave the company a “buy” rating in a report on Monday, July 24th. Citigroup Inc. reissued a “buy” rating and issued a $87.00 price objective (up from $39.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective (up from $38.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $47.00 price objective (up from $43.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $54.71.

The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of -0.09.

Institutional investors and hedge funds have recently modified their holdings of the company. P.A.W. Capital Corp purchased a new stake in shares of Reata Pharmaceuticals in the third quarter worth about $933,000. Bank of New York Mellon Corp boosted its position in Reata Pharmaceuticals by 52.9% during the second quarter. Bank of New York Mellon Corp now owns 33,959 shares of the company’s stock worth $1,074,000 after purchasing an additional 11,746 shares in the last quarter. Swiss National Bank purchased a new position in Reata Pharmaceuticals during the second quarter worth approximately $440,000. JPMorgan Chase & Co. boosted its position in Reata Pharmaceuticals by 78.1% during the second quarter. JPMorgan Chase & Co. now owns 232,562 shares of the company’s stock worth $7,359,000 after purchasing an additional 101,969 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in Reata Pharmaceuticals during the second quarter worth approximately $303,000. Hedge funds and other institutional investors own 17.43% of the company’s stock.

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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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