Reata Pharmaceuticals (NASDAQ:RETA) Downgraded by BidaskClub to Sell

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

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Reata Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, July 11th. Citigroup raised their price objective on Reata Pharmaceuticals from $190.00 to $194.00 and gave the company a buy rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $141.50.

Reata Pharmaceuticals stock traded up $2.75 during mid-day trading on Friday, reaching $75.74. The stock had a trading volume of 225,800 shares, compared to its average volume of 197,965. The company has a current ratio of 4.24, a quick ratio of 5.19 and a debt-to-equity ratio of 5.23. Reata Pharmaceuticals has a fifty-two week low of $47.50 and a fifty-two week high of $104.53. The stock’s 50-day simple moving average is $87.20 and its 200-day simple moving average is $87.10.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.12) by ($0.02). Reata Pharmaceuticals had a negative net margin of 410.38% and a negative return on equity of 3,282.73%. The firm had revenue of $7.83 million during the quarter, compared to analyst estimates of $7.76 million. As a group, equities analysts anticipate that Reata Pharmaceuticals will post -4.56 earnings per share for the current fiscal year.

In related news, CFO Jason Douglas Wilson sold 4,000 shares of Reata Pharmaceuticals stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Elaine Castellanos sold 2,000 shares of Reata Pharmaceuticals stock in a transaction that occurred 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 approximately $352,557.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,000 shares of company stock worth $1,133,840. 34.40% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. Meadow Creek Investment Management LLC boosted its position in shares of 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 during the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of 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 during the last quarter. Invesco Ltd. boosted its position in shares of Reata Pharmaceuticals by 1.0% during the second quarter. Invesco Ltd. now owns 18,750 shares of the company’s stock valued at $1,769,000 after buying an additional 192 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Reata Pharmaceuticals by 1.3% during the first 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 during the last quarter. Finally, M&T Bank Corp boosted its position in shares of Reata Pharmaceuticals by 7.7% during the second quarter. M&T Bank Corp now owns 3,509 shares of the company’s stock valued at $331,000 after buying an additional 250 shares during the last quarter. 54.71% 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.

Further Reading: Oversold

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