State Board of Administration of Florida Retirement System Purchases 800 Shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA)

State Board of Administration of Florida Retirement System grew its position in shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETAGet Rating) by 6.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,787 shares of the company’s stock after buying an additional 800 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Reata Pharmaceuticals were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Reata Pharmaceuticals by 3.4% during the first quarter. Wellington Management Group LLP now owns 4,396,539 shares of the company’s stock valued at $144,030,000 after acquiring an additional 143,562 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Reata Pharmaceuticals by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 2,643,082 shares of the company’s stock valued at $86,587,000 after purchasing an additional 85,409 shares during the last quarter. Emerald Advisers LLC raised its stake in shares of Reata Pharmaceuticals by 5.7% during the 2nd quarter. Emerald Advisers LLC now owns 286,181 shares of the company’s stock worth $8,697,000 after purchasing an additional 15,335 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Reata Pharmaceuticals by 15.3% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 251,268 shares of the company’s stock worth $7,636,000 after buying an additional 33,262 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Reata Pharmaceuticals by 3.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 200,153 shares of the company’s stock valued at $6,558,000 after buying an additional 6,526 shares during the period. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Reata Pharmaceuticals Trading Up 7.2 %

Reata Pharmaceuticals stock opened at $37.94 on Monday. The firm has a 50 day simple moving average of $30.47 and a 200 day simple moving average of $29.28. Reata Pharmaceuticals, Inc. has a 1-year low of $18.47 and a 1-year high of $95.34. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -4.43 and a beta of 1.15.

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported ($2.16) earnings per share for the quarter, beating the consensus estimate of ($2.35) by $0.19. Reata Pharmaceuticals had a negative return on equity of 322.32% and a negative net margin of 9,897.91%. The company had revenue of $0.54 million during the quarter, compared to analysts’ expectations of $1.43 million. On average, equities research analysts forecast that Reata Pharmaceuticals, Inc. will post -8.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RETA shares. StockNews.com assumed coverage on shares of Reata Pharmaceuticals in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. The Goldman Sachs Group lifted their price target on shares of Reata Pharmaceuticals from $76.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 9th. Robert W. Baird increased their price objective on Reata Pharmaceuticals to $40.00 in a report on Tuesday, November 15th. Citigroup boosted their target price on Reata Pharmaceuticals from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, November 9th. Finally, Barclays upped their price target on Reata Pharmaceuticals from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Reata Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $64.75.

Reata Pharmaceuticals Profile

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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.

See Also

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Institutional Ownership by Quarter for Reata Pharmaceuticals (NASDAQ:RETA)

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