BidaskClub Lowers Reata Pharmaceuticals (NASDAQ:RETA) to Sell

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

Several other brokerages have also weighed in on RETA. Zacks Investment Research lowered Reata Pharmaceuticals from a hold rating to a sell rating in a research report on Thursday, July 11th. Citigroup increased their target price on Reata Pharmaceuticals from $190.00 to $194.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $141.50.

Shares of NASDAQ RETA opened at $78.31 on Friday. Reata Pharmaceuticals has a 1-year low of $47.50 and a 1-year high of $104.53. 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 business’s fifty day moving average price is $86.11 and its two-hundred day moving average price is $86.94. The firm has a market capitalization of $2.28 billion, a PE ratio of -27.29 and a beta of 2.31.

Reata Pharmaceuticals (NASDAQ:RETA) last issued its earnings results on Thursday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.12) by ($0.02). Reata Pharmaceuticals had a negative return on equity of 3,282.73% and a negative net margin of 410.38%. The company had revenue of $7.83 million during the quarter, compared to analyst estimates of $7.76 million. Equities research analysts expect that Reata Pharmaceuticals will post -4.56 earnings per share for the current fiscal year.

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

Several institutional investors and hedge funds have recently modified their holdings of RETA. Resources Investment Advisors LLC. bought a new position in Reata Pharmaceuticals during the second quarter valued at about $25,000. Meadow Creek Investment Management LLC boosted its stake in Reata Pharmaceuticals by 71.4% during the second quarter. Meadow Creek Investment Management LLC now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 140 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in Reata Pharmaceuticals by 71.4% during the second quarter. Glen Harbor Capital Management LLC now owns 408 shares of the company’s stock valued at $39,000 after buying an additional 170 shares in the last quarter. Optimum Investment Advisors bought a new position in Reata Pharmaceuticals during the second quarter valued at about $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Reata Pharmaceuticals by 100.2% during the first 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. 54.79% of the stock is currently owned by 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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