Reata Pharmaceuticals (NASDAQ:RETA) Reaches New 12-Month High at $172.15

Reata Pharmaceuticals, Inc. (NASDAQ:RETA)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $172.15 and last traded at $172.11, with a volume of 341874 shares traded. The stock had previously closed at $172.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. TD Cowen began coverage on Reata Pharmaceuticals in a report on Thursday, July 6th. They set an “outperform” rating and a $140.00 price target for the company. Stifel Nicolaus lowered Reata Pharmaceuticals from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $110.00 to $172.50 in a research note on Friday, July 28th. LADENBURG THALM/SH SH cut Reata Pharmaceuticals from a “buy” rating to a “neutral” rating and increased their price objective for the company from $122.00 to $172.50 in a research report on Monday, July 31st. 888 reissued a “reiterates” rating on shares of Reata Pharmaceuticals in a report on Wednesday, June 28th. Finally, Citigroup downgraded shares of Reata Pharmaceuticals from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $127.00 to $172.50 in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Reata Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $150.36.

Reata Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.19 and a current ratio of 3.21. The stock’s fifty day moving average is $153.40 and its two-hundred day moving average is $114.63.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its earnings results on Tuesday, August 8th. The company reported ($2.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.88) by $0.56. The company had revenue of $22.75 million for the quarter, compared to the consensus estimate of $0.85 million. Research analysts expect that Reata Pharmaceuticals, Inc. will post -3.02 EPS for the current year.

Insider Activity

In other news, SVP Andrea Loewen sold 3,175 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $172.03, for a total transaction of $546,195.25. Following the completion of the sale, the senior vice president now directly owns 28,416 shares in the company, valued at $4,888,404.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Andrea Loewen sold 3,175 shares of Reata Pharmaceuticals stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $172.03, for a total value of $546,195.25. Following the sale, the senior vice president now owns 28,416 shares in the company, valued at $4,888,404.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Manmeet Singh Soni sold 75,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $164.62, for a total transaction of $12,346,500.00. Following the completion of the transaction, the chief financial officer now owns 64,376 shares of the company’s stock, valued at $10,597,577.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,410 shares of company stock valued at $20,829,200. Insiders own 26.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position in Reata Pharmaceuticals by 195.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 741 shares of the company’s stock valued at $67,000 after buying an additional 490 shares in the last quarter. Suvretta Capital Management LLC bought a new position in Reata Pharmaceuticals in the 1st quarter worth about $1,373,000. Altium Capital Management LP purchased a new stake in Reata Pharmaceuticals during the 1st quarter valued at about $3,182,000. HAP Trading LLC bought a new stake in Reata Pharmaceuticals during the 1st quarter valued at about $938,000. Finally, First Light Asset Management LLC raised its holdings in 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 buying an additional 1,007,468 shares during the last quarter.

Reata Pharmaceuticals Company Profile

Reata Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, identifies, develops, and commercializes novel therapeutics for patients with serious or life-threatening diseases. The company is developing Phase 3 clinical trial programs, including bardoxolone methyl (bardoxolone) for the treatment of patients with chronic kidney disease (CKD) caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; omaveloxolone to treat Friedreich's ataxia; and conduct various form of CKD, such as, type 1 and type 2 diabetic CKD, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.