Reata Pharmaceuticals (NASDAQ:RETA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Reata Pharmaceuticals (NASDAQ:RETA) from a hold rating to a sell rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Reata Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is engaged in identifying, developing and commercializing product candidates which modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress and inflammation to address the unmet medical needs of serious or life-threatening diseases. Reata Pharmaceuticals, Inc. is based in Irving, United States. “

Other analysts also recently issued reports about the company. Citigroup set a $27.00 price target on StoneCo and gave the company a hold rating in a report on Friday, May 31st. ValuEngine upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Finally, BidaskClub upgraded Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $130.80.

Shares of NASDAQ RETA opened at $86.91 on Thursday. Reata Pharmaceuticals has a 12-month low of $40.45 and a 12-month high of $104.53. The company has a debt-to-equity ratio of 5.23, a current ratio of 5.19 and a quick ratio of 5.19. The firm has a fifty day moving average of $88.32.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.01). The company had revenue of $7.77 million during the quarter, compared to analysts’ expectations of $7.92 million. On average, analysts forecast that Reata Pharmaceuticals will post -4.61 earnings per share for the current year.

In other news, CFO Jason Douglas Wilson sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $83.82, for a total transaction of $335,280.00. Following the completion of the sale, the chief financial officer now directly owns 4,000 shares in the company, valued at $335,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elaine Castellanos sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $85.20, for a total value of $170,400.00. Following the sale, the insider now owns 4,138 shares of the company’s stock, valued at $352,557.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,000 shares of company stock valued at $1,199,480. 34.40% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP lifted its position in shares of Reata Pharmaceuticals by 1,364.9% during the 4th quarter. First Trust Advisors LP now owns 47,198 shares of the company’s stock valued at $2,648,000 after buying an additional 43,976 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Reata Pharmaceuticals by 713.7% in the 4th quarter. California Public Employees Retirement System now owns 28,503 shares of the company’s stock worth $1,599,000 after purchasing an additional 25,000 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Reata Pharmaceuticals by 3.9% in the 4th quarter. New York State Common Retirement Fund now owns 18,426 shares of the company’s stock worth $1,034,000 after purchasing an additional 700 shares in the last quarter. BlackRock Inc. lifted its holdings in Reata Pharmaceuticals by 1.5% in the 4th quarter. BlackRock Inc. now owns 1,958,164 shares of the company’s stock worth $109,851,000 after purchasing an additional 29,802 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Reata Pharmaceuticals by 10.2% in the 4th quarter. Citigroup Inc. now owns 8,628 shares of the company’s stock worth $484,000 after purchasing an additional 797 shares in the last quarter. Institutional investors own 54.45% of the company’s stock.

Reata Pharmaceuticals Company Profile

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 (Bard) for the treatment of patients with chronic kidney disease caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; and omaveloxolone that is Phase II clinical trial for the treatment of patients with Friedreich's ataxia It is also developing RTA 901, which completed Phase 1 clinical trials for the treatment of orphan neurological indications; and RORgT Inhibitors that are in the preclinical development phase for the potential treatment of a range of autoimmune, inflammatory, and fibrotic diseases.

See Also: What is the significance of a dead cat bounce?

Get a free copy of the Zacks research report on Reata Pharmaceuticals (RETA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Reata Pharmaceuticals (NASDAQ:RETA)

Receive News & Ratings for Reata Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reata Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.