Reata Pharmaceuticals Inc. (NASDAQ:RETA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $36.00 target price on the stock. Zacks Investment Research’s price objective points to a potential upside of 20.68% from the stock’s current price.

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. “

Separately, Piper Jaffray Cos. set a $33.00 price target on shares of Reata Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, October 7th.

Reata Pharmaceuticals (NASDAQ:RETA) opened at 29.83 on Friday. Reata Pharmaceuticals has a one year low of $11.03 and a one year high of $41.60. The stock’s 50 day moving average is $26.57 and its 200 day moving average is $21.70. The stock’s market capitalization is $665.95 million.

Reata Pharmaceuticals (NASDAQ:RETA) last issued its quarterly earnings results on Monday, November 14th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. The business earned $12.55 million during the quarter, compared to the consensus estimate of $12.46 million. On average, equities analysts forecast that Reata Pharmaceuticals will post ($0.50) EPS for the current year.

A number of institutional investors have recently modified their holdings of the company. Strs Ohio boosted its position in shares of Reata Pharmaceuticals by 257.9% in the third quarter. Strs Ohio now owns 6,800 shares of the company’s stock worth $179,000 after buying an additional 4,900 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Reata Pharmaceuticals by 0.8% in the third quarter. California State Teachers Retirement System now owns 12,025 shares of the company’s stock worth $317,000 after buying an additional 100 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Reata Pharmaceuticals by 41.9% in the third quarter. Bank of New York Mellon Corp now owns 15,570 shares of the company’s stock worth $410,000 after buying an additional 4,599 shares in the last quarter. Morgan Stanley boosted its position in shares of Reata Pharmaceuticals by 121.6% in the third quarter. Morgan Stanley now owns 15,610 shares of the company’s stock worth $411,000 after buying an additional 8,567 shares in the last quarter. Finally, University of Texas Investment Managment Co. boosted its position in shares of Reata Pharmaceuticals by 2,367.0% in the third quarter. University of Texas Investment Managment Co. now owns 28,593 shares of the company’s stock worth $754,000 after buying an additional 27,434 shares in the last quarter. 71.86% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:RETA

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