Reata Pharmaceuticals Inc (NASDAQ:RETA) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday.

RETA has been the subject of several other reports. Citigroup Inc. reiterated a “buy” rating and issued a $87.00 price objective (up from $39.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. Jefferies Group LLC began coverage on shares of Reata Pharmaceuticals in a report on Wednesday, August 30th. They issued a “buy” rating and a $44.00 price objective for the company. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $61.00 price objective (up from $55.00) on shares of Reata Pharmaceuticals in a report on Wednesday, July 26th. Piper Jaffray Companies increased their price objective on shares of Reata Pharmaceuticals from $53.00 to $60.00 and gave the company a “buy” rating in a report on Monday, July 24th. Finally, Zacks Investment Research cut shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Reata Pharmaceuticals presently has an average rating of “Buy” and an average price target of $52.86.

Reata Pharmaceuticals (RETA) traded up 1.77% during midday trading on Monday, hitting $29.38. 118,728 shares of the stock were exchanged. The stock’s market cap is $766.91 million. The firm’s 50-day moving average is $28.93 and its 200 day moving average is $26.68. Reata Pharmaceuticals has a 52 week low of $18.51 and a 52 week high of $41.60.

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In other Reata Pharmaceuticals news, Director James Edward Bass bought 8,064 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average cost of $31.00 per share, with a total value of $249,984.00. Following the completion of the purchase, the director now directly owns 67,411 shares in the company, valued at $2,089,741. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder A/S Novo sold 11,389 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $25.47, for a total transaction of $290,077.83. Following the sale, the insider now directly owns 642,405 shares of the company’s stock, valued at $16,362,055.35. The disclosure for this sale can be found here. Company insiders own 62.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors lifted its stake in Reata Pharmaceuticals by 38.1% during the second quarter. Nationwide Fund Advisors now owns 4,368 shares of the company’s stock valued at $138,000 after purchasing an additional 1,206 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Reata Pharmaceuticals by 37.4% during the second quarter. Wells Fargo & Company MN now owns 5,591 shares of the company’s stock valued at $176,000 after purchasing an additional 1,521 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Reata Pharmaceuticals by 102.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,343 shares of the company’s stock valued at $233,000 after purchasing an additional 3,715 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in Reata Pharmaceuticals during the second quarter valued at approximately $249,000. Finally, Russell Investments Group Ltd. acquired a new stake in Reata Pharmaceuticals during the second quarter valued at approximately $254,000. 21.85% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Reata Pharmaceuticals (NASDAQ:RETA)

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