Reata Pharmaceuticals (NASDAQ:RETA) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) in a report released on Thursday. The brokerage issued a sell rating on the stock.

RETA has been the topic of a number of other research reports. SVB Securities increased their price objective on Reata Pharmaceuticals from $35.00 to $75.00 in a report on Wednesday, March 1st. Citigroup increased their price target on shares of Reata Pharmaceuticals from $53.00 to $120.00 and gave the stock a buy rating in a report on Wednesday, March 1st. The Goldman Sachs Group boosted their price objective on shares of Reata Pharmaceuticals from $115.00 to $117.00 and gave the company a buy rating in a research note on Friday, February 24th. Stifel Nicolaus increased their target price on shares of Reata Pharmaceuticals from $75.00 to $105.00 in a research note on Wednesday, March 1st. Finally, Robert W. Baird boosted their price target on shares of Reata Pharmaceuticals from $40.00 to $85.00 and gave the company a neutral rating in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $95.00.

Reata Pharmaceuticals Price Performance

Shares of RETA stock opened at $85.29 on Thursday. The company’s fifty day simple moving average is $53.94 and its two-hundred day simple moving average is $39.89. Reata Pharmaceuticals has a 1 year low of $18.47 and a 1 year high of $95.00.

Insider Activity

In related news, insider Dawn Carter Bir sold 54,954 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $89.56, for a total value of $4,921,680.24. Following the completion of the transaction, the insider now directly owns 41,925 shares in the company, valued at $3,754,803. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Bhaskar Anand sold 820 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $87.47, for a total transaction of $71,725.40. Following the transaction, the chief accounting officer now directly owns 26,930 shares of the company’s stock, valued at approximately $2,355,567.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dawn Carter Bir sold 54,954 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $89.56, for a total transaction of $4,921,680.24. Following the transaction, the insider now owns 41,925 shares in the company, valued at $3,754,803. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,468 shares of company stock worth $9,704,843. 28.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Reata Pharmaceuticals

A number of hedge funds have recently made changes to their positions in RETA. Wellington Management Group LLP grew its holdings in shares of Reata Pharmaceuticals by 3.4% during the 1st quarter. Wellington Management Group LLP now owns 4,396,539 shares of the company’s stock valued at $144,030,000 after purchasing an additional 143,562 shares during the last quarter. Vanguard Group Inc. increased its stake in Reata Pharmaceuticals by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,653,300 shares of the company’s stock worth $66,677,000 after purchasing an additional 33,890 shares during the period. BlackRock Inc. boosted its stake in shares of Reata Pharmaceuticals by 15.5% during the third quarter. BlackRock Inc. now owns 2,495,371 shares of the company’s stock valued at $62,709,000 after purchasing an additional 335,724 shares during the period. First Light Asset Management LLC grew its holdings in shares of Reata Pharmaceuticals by 95.5% in the fourth quarter. First Light Asset Management LLC now owns 2,062,453 shares of the company’s stock worth $78,353,000 after purchasing an additional 1,007,468 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Reata Pharmaceuticals in the third quarter worth $45,502,000. 76.13% of the stock is currently owned by institutional investors.

About Reata Pharmaceuticals

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Reata Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which engages in identifying, developing, and commercializing pharmaceutical products. Its product candidates are bardoxolone methyl and omaveloxolone, which activate the transcription factor Nrf2 to restore mitochondrial function, reduce oxidative stress, and resolve inflammation.