Reata Pharmaceuticals (NASDAQ:RETA) Price Target Raised to $46.00

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) had its price target boosted by stock analysts at Citigroup from $43.00 to $46.00 in a research report issued on Friday, The Fly reports. Citigroup’s target price suggests a potential upside of 65.47% from the company’s previous close.

Other research analysts have also issued reports about the stock. StockNews.com started coverage on shares of Reata Pharmaceuticals in a research report on Thursday, March 31st. They set a “sell” rating on the stock. The Goldman Sachs Group lowered their price target on Reata Pharmaceuticals from $93.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, LADENBURG THALM/SH SH dropped their price objective on shares of Reata Pharmaceuticals from $75.00 to $67.00 in a report on Wednesday, May 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $59.00.

Shares of RETA opened at $27.80 on Friday. Reata Pharmaceuticals has a one year low of $20.24 and a one year high of $153.41. The firm has a 50 day simple moving average of $30.31 and a two-hundred day simple moving average of $38.36. The company has a market cap of $1.01 billion, a P/E ratio of -3.33 and a beta of 1.25.

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($2.03) earnings per share for the quarter, beating the consensus estimate of ($2.26) by $0.23. The company had revenue of $0.91 million during the quarter, compared to analysts’ expectations of $1.55 million. Reata Pharmaceuticals had a negative net margin of 2,650.72% and a negative return on equity of 137.52%. Reata Pharmaceuticals’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted ($1.86) earnings per share. Equities analysts expect that Reata Pharmaceuticals will post -8.34 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Reata Pharmaceuticals by 566.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,182,570 shares of the company’s stock worth $31,184,000 after acquiring an additional 1,005,161 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Reata Pharmaceuticals by 22.4% during the 3rd quarter. Invesco Ltd. now owns 3,438,804 shares of the company’s stock worth $345,978,000 after acquiring an additional 629,088 shares during the period. Millennium Management LLC raised its stake in shares of Reata Pharmaceuticals by 3,969.5% in the 4th quarter. Millennium Management LLC now owns 608,951 shares of the company’s stock valued at $16,058,000 after acquiring an additional 624,688 shares during the period. Opaleye Management Inc. acquired a new stake in shares of Reata Pharmaceuticals during the fourth quarter valued at about $8,702,000. Finally, Camber Capital Management LP lifted its holdings in Reata Pharmaceuticals by 47.3% during the 3rd quarter. Camber Capital Management LP now owns 685,000 shares of the company’s stock worth $68,918,000 after buying an additional 220,000 shares during the last quarter. 73.55% of the stock is currently owned by institutional investors and hedge funds.

About Reata Pharmaceuticals (Get Rating)

Reata Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, identifies, develops, and commercializes novel therapeutics for patients with serious or life-threatening diseases. The company is developing Phase 3 clinical trial programs, including bardoxolone methyl (bardoxolone) for the treatment of patients with chronic kidney disease (CKD) caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; omaveloxolone that is Phase II clinical trial to treat Friedreich's ataxia; and conduct Phase 2 study for various form of CKD, such as IgA nephropathy, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.

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