Reata Pharmaceuticals (NASDAQ:RETA) Trading Up 6.5% After Analyst Upgrade


Reata Pharmaceuticals, Inc. (NASDAQ:RETA) rose 6.5% during mid-day trading on Thursday after Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on the stock from $234.00 to $244.00. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell currently has a buy rating on the stock. Reata Pharmaceuticals traded as high as $110.46 and last traded at $109.26. Approximately 12,923 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 335,642 shares. The stock had previously closed at $102.63.

A number of other research firms also recently commented on RETA. Barclays initiated coverage on shares of Reata Pharmaceuticals in a report on Monday, May 3rd. They set an “overweight” rating and a $155.00 price objective for the company. Citigroup raised their price objective on shares of Reata Pharmaceuticals from $234.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $228.38.

Hedge funds have recently made changes to their positions in the stock. Perigon Wealth Management LLC bought a new position in Reata Pharmaceuticals during the 4th quarter valued at about $26,000. Bank of Montreal Can lifted its holdings in Reata Pharmaceuticals by 79.9% during the 1st quarter. Bank of Montreal Can now owns 545 shares of the company’s stock valued at $51,000 after purchasing an additional 242 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in Reata Pharmaceuticals by 40.4% during the 1st quarter. First Mercantile Trust Co. now owns 660 shares of the company’s stock valued at $66,000 after purchasing an additional 190 shares during the last quarter. Penserra Capital Management LLC bought a new position in Reata Pharmaceuticals during the 4th quarter valued at about $82,000. Finally, Panagora Asset Management Inc. bought a new position in Reata Pharmaceuticals during the 1st quarter valued at about $96,000. 64.30% of the stock is owned by hedge funds and other institutional investors.

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The stock has a market capitalization of $3.96 billion, a P/E ratio of -9.59 and a beta of 1.57. The firm’s fifty day moving average is $91.52 and its 200-day moving average is $118.35.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its earnings results on Thursday, May 6th. The company reported ($1.86) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.18) by $0.32. Reata Pharmaceuticals had a negative net margin of 4,340.72% and a negative return on equity of 163.42%. The company had revenue of $0.94 million during the quarter, compared to the consensus estimate of $1.43 million. During the same period in the previous year, the firm posted ($0.89) earnings per share. The company’s revenue was down 30.2% on a year-over-year basis. On average, research analysts predict that Reata Pharmaceuticals, Inc. will post -7.87 earnings per share for the current fiscal year.

Reata Pharmaceuticals Company Profile (NASDAQ:RETA)

Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III 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 II 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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