BidaskClub Lowers Reata Pharmaceuticals (NASDAQ:RETA) to Sell

BidaskClub lowered shares of Reata Pharmaceuticals (NASDAQ:RETA) from a hold rating to a sell rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other research analysts also recently commented on RETA. Citigroup upped their price objective on shares of Reata Pharmaceuticals from $190.00 to $194.00 and gave the company a buy rating in a research note on Thursday, August 8th. Zacks Investment Research downgraded shares of Reata Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $141.50.

NASDAQ RETA opened at $78.31 on Friday. Reata Pharmaceuticals has a 12 month low of $47.50 and a 12 month high of $104.53. The company has a 50-day moving average of $86.11 and a 200-day moving average of $86.94. The company has a debt-to-equity ratio of 5.23, a current ratio of 4.24 and a quick ratio of 5.19. The company has a market cap of $2.28 billion, a P/E ratio of -27.29 and a beta of 2.31.

Reata Pharmaceuticals (NASDAQ:RETA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.12) by ($0.02). Reata Pharmaceuticals had a negative net margin of 410.38% and a negative return on equity of 3,282.73%. The company had revenue of $7.83 million for the quarter, compared to analyst estimates of $7.76 million. As a group, equities research analysts anticipate that Reata Pharmaceuticals will post -4.56 EPS for the current year.

In other news, insider Elaine Castellanos sold 2,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $85.20, for a total transaction of $170,400.00. Following the completion of the sale, the insider now owns 4,138 shares in the company, valued at approximately $352,557.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Douglas Wilson sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $72.68, for a total value of $290,720.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,000 shares of company stock valued at $1,133,840. Corporate insiders own 34.40% of the company’s stock.

Large investors have recently modified their holdings of the company. Resources Investment Advisors LLC. purchased a new stake in shares of Reata Pharmaceuticals during the 2nd quarter worth about $25,000. Meadow Creek Investment Management LLC boosted its holdings in Reata Pharmaceuticals by 71.4% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares during the period. Glen Harbor Capital Management LLC boosted its holdings in Reata Pharmaceuticals by 71.4% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 408 shares of the company’s stock worth $39,000 after acquiring an additional 170 shares during the period. Optimum Investment Advisors purchased a new position in Reata Pharmaceuticals in the 2nd quarter worth approximately $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Reata Pharmaceuticals by 100.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 991 shares of the company’s stock worth $85,000 after acquiring an additional 496 shares during the period. Institutional investors and hedge funds own 54.79% of the company’s stock.

About Reata Pharmaceuticals

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.

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