StockNews.com Begins Coverage on Reata Pharmaceuticals (NASDAQ:RETA)

StockNews.com initiated coverage on shares of Reata Pharmaceuticals (NASDAQ:RETA) in a research report released on Friday morning. The brokerage issued a sell rating on the stock.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus downgraded shares of Reata Pharmaceuticals from a buy rating to a hold rating and upped their target price for the stock from $110.00 to $172.50 in a report on Friday, July 28th. 888 reiterated a reiterates rating on shares of Reata Pharmaceuticals in a research note on Wednesday, June 28th. SVB Securities cut shares of Reata Pharmaceuticals from an outperform rating to a market perform rating in a research note on Friday, July 28th. TD Cowen initiated coverage on shares of Reata Pharmaceuticals in a research note on Thursday, July 6th. They issued an outperform rating and a $140.00 price target on the stock. Finally, Leerink Partnrs cut shares of Reata Pharmaceuticals from an outperform rating to a market perform rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Reata Pharmaceuticals presently has an average rating of Hold and an average target price of $150.36.

Reata Pharmaceuticals Trading Up 0.1 %

Shares of Reata Pharmaceuticals stock opened at $170.32 on Friday. The company has a quick ratio of 3.19, a current ratio of 3.21 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average of $145.36 and a 200 day moving average of $109.75. Reata Pharmaceuticals has a fifty-two week low of $21.83 and a fifty-two week high of $170.39.

Reata Pharmaceuticals (NASDAQ:RETA) last issued its earnings results on Tuesday, August 8th. The company reported ($2.32) earnings per share for the quarter, topping the consensus estimate of ($2.88) by $0.56. The firm had revenue of $22.75 million during the quarter, compared to the consensus estimate of $0.85 million. On average, equities analysts forecast that Reata Pharmaceuticals will post -7.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Manmeet Singh Soni sold 78,085 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $102.89, for a total value of $8,034,165.65. Following the sale, the chief financial officer now directly owns 58,376 shares of the company’s stock, valued at approximately $6,006,306.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Reata Pharmaceuticals news, CFO Manmeet Singh Soni sold 78,085 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $102.89, for a total value of $8,034,165.65. Following the transaction, the chief financial officer now directly owns 58,376 shares in the company, valued at approximately $6,006,306.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dawn Carter Bir sold 40,000 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $164.54, for a total transaction of $6,581,600.00. Following the completion of the transaction, the insider now owns 35,010 shares in the company, valued at $5,760,545.40. The disclosure for this sale can be found here. Insiders have sold 203,663 shares of company stock valued at $28,556,414 in the last ninety days. 26.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Reata Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC purchased a new position in Reata Pharmaceuticals in the second quarter valued at about $41,000. Affinity Asset Advisors LLC bought a new position in Reata Pharmaceuticals in the second quarter worth about $2,968,000. GTS Securities LLC bought a new position in Reata Pharmaceuticals in the second quarter worth about $799,000. Alliancebernstein L.P. raised its holdings in Reata Pharmaceuticals by 90.3% in the second quarter. Alliancebernstein L.P. now owns 131,235 shares of the company’s stock worth $13,381,000 after purchasing an additional 62,262 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Reata Pharmaceuticals by 84.8% in the second quarter. Wells Fargo & Company MN now owns 12,783 shares of the company’s stock worth $1,303,000 after purchasing an additional 5,867 shares in the last quarter.

About Reata Pharmaceuticals

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 to treat Friedreich's ataxia; and conduct various form of CKD, such as, type 1 and type 2 diabetic CKD, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.