Leerink Swann started coverage on shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) in a research note issued to investors on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $43.00 price objective on the stock. Leerink Swann also issued estimates for Reata Pharmaceuticals’ Q3 2017 earnings at ($0.41) EPS, Q4 2017 earnings at ($0.48) EPS, FY2017 earnings at ($1.73) EPS, FY2018 earnings at ($2.01) EPS, FY2019 earnings at ($1.95) EPS, FY2020 earnings at ($0.80) EPS and FY2021 earnings at $0.48 EPS.
A number of other equities analysts also recently commented on the company. Jefferies Group LLC started coverage on Reata Pharmaceuticals in a report on Wednesday, August 30th. They issued a buy rating and a $44.00 price objective on the stock. Citigroup Inc. restated a buy rating and issued a $87.00 price objective (up previously from $39.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. Stifel Nicolaus restated a buy rating and issued a $50.00 price objective (up previously from $38.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. ValuEngine downgraded Reata Pharmaceuticals from a hold rating to a sell rating in a report on Monday, September 11th. Finally, Robert W. Baird restated a buy rating and issued a $47.00 price objective on shares of Reata Pharmaceuticals in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating and eight have given a buy rating to the company. Reata Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $51.63.
Shares of Reata Pharmaceuticals (NASDAQ:RETA) opened at 31.01 on Wednesday. The company has a 50 day moving average of $28.57 and a 200 day moving average of $26.88. Reata Pharmaceuticals has a 52-week low of $18.51 and a 52-week high of $41.60. The firm’s market capitalization is $809.45 million.
In other news, Director James Edward Bass acquired 8,064 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average price of $31.00 per share, for a total transaction of $249,984.00. Following the completion of the acquisition, the director now owns 67,411 shares of the company’s stock, valued at approximately $2,089,741. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 62.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new stake in Reata Pharmaceuticals during the first quarter worth approximately $483,000. Teachers Advisors LLC boosted its position in Reata Pharmaceuticals by 12.8% during the fourth quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock worth $221,000 after purchasing an additional 1,148 shares during the period. Fifth Third Bancorp bought a new stake in Reata Pharmaceuticals during the first quarter worth approximately $395,000. Atlantic Trust Group LLC bought a new stake in Reata Pharmaceuticals during the first quarter worth approximately $285,000. Finally, King Luther Capital Management Corp bought a new stake in Reata Pharmaceuticals during the first quarter worth approximately $1,268,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.
About Reata Pharmaceuticals
Reata Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on identifying, developing and commercializing product candidates that modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a range of serious or life-threatening diseases.
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