Piper Jaffray Cos. set a $33.00 price objective on Reata Pharmaceuticals Inc. (NASDAQ:RETA) in a research note issued to investors on Friday morning. The brokerage currently has a a buy rating on the stock.
Several other analysts also recently issued reports on RETA. Cowen and Company initiated coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They set an outperform rating and a $22.00 price objective on the stock. Citigroup Inc. initiated coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They set a buy rating and a $32.00 price objective on the stock. Finally, Zacks Investment Research upgraded Reata Pharmaceuticals from a hold rating to a buy rating and set a $22.00 price objective on the stock in a report on Saturday, August 27th.
Reata Pharmaceuticals (NASDAQ:RETA) traded up 3.45% during midday trading on Friday, hitting $30.00. 30,092 shares of the company traded hands. Reata Pharmaceuticals has a 12-month low of $11.03 and a 12-month high of $32.22. The stock has a 50 day moving average price of $23.82 and a 200-day moving average price of $20.12. The company’s market cap is $669.75 million.
Reata Pharmaceuticals (NASDAQ:RETA) last issued its quarterly earnings results on Thursday, August 11th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business earned $12.40 million during the quarter. Analysts expect that Reata Pharmaceuticals will post ($0.54) EPS for the current year.
In other Reata Pharmaceuticals news, insider Colin John Meyer bought 7,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were bought at an average price of $16.26 per share, for a total transaction of $113,820.00. Following the acquisition, the insider now directly owns 27,172 shares of the company’s stock, valued at $441,816.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Kent Mcgaughy, Jr. bought 308,220 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was acquired at an average price of $17.08 per share, for a total transaction of $5,264,397.60. Following the acquisition, the director now directly owns 25,004 shares in the company, valued at $427,068.32. The disclosure for this purchase can be found here. Company insiders own 62.40% of the company’s stock.
Reata Pharmaceuticals Company Profile
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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