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

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Zacks Investment Research cut shares of Reata Pharmaceuticals (NASDAQ:RETA) from a hold rating to a sell rating in a research note released on Thursday morning, 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 equities research analysts have also issued research reports about the company. ValuEngine raised Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Monday, April 1st. Citigroup set a $27.00 price target on StoneCo and gave the stock a hold rating in a research note on Friday, May 31st. Finally, BidaskClub raised Zebra Technologies from a hold rating to a buy rating in a research note on Saturday, July 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Reata Pharmaceuticals has a consensus rating of Buy and an average target price of $130.80.

Shares of NASDAQ:RETA opened at $86.91 on Thursday. The stock’s 50 day moving average price is $88.32. The company has a debt-to-equity ratio of 5.23, a quick ratio of 5.19 and a current ratio of 5.19. Reata Pharmaceuticals has a 12 month low of $40.45 and a 12 month high of $104.53.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.98) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.01). The firm had revenue of $7.77 million during the quarter, compared to analyst estimates of $7.92 million. Analysts expect that Reata Pharmaceuticals will post -4.61 EPS for the current fiscal year.

In related news, insider Elaine Castellanos sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was 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 approximately $352,557.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jason Douglas Wilson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $83.82, for a total value 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 approximately $335,280. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock worth $1,199,480 in the last three months. Corporate insiders own 34.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc. lifted its stake in Reata Pharmaceuticals by 1.3% in the 1st quarter. TD Asset Management Inc. now owns 15,813 shares of the company’s stock valued at $1,352,000 after buying an additional 200 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Reata Pharmaceuticals by 3.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 7,902 shares of the company’s stock valued at $675,000 after buying an additional 290 shares in the last quarter. Legal & General Group Plc lifted its stake in Reata Pharmaceuticals by 11.5% in the 4th quarter. Legal & General Group Plc now owns 3,414 shares of the company’s stock valued at $192,000 after buying an additional 352 shares in the last quarter. Eagle Global Advisors LLC lifted its stake in Reata Pharmaceuticals by 6.7% in the 1st quarter. Eagle Global Advisors LLC now owns 6,400 shares of the company’s stock valued at $547,000 after buying an additional 400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Reata Pharmaceuticals by 100.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 991 shares of the company’s stock valued at $85,000 after buying an additional 496 shares in the last quarter. 54.45% of the stock is currently owned by hedge funds and other institutional investors.

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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