LADENBURG THALM/SH SH Trims Reata Pharmaceuticals (NASDAQ:RETA) Target Price to $67.00

Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) had its target price reduced by LADENBURG THALM/SH SH from $75.00 to $67.00 in a report released on Wednesday, The Fly reports.

Several other analysts also recently weighed in on RETA. The Goldman Sachs Group upgraded shares of Reata Pharmaceuticals from a neutral rating to a buy rating and lifted their price objective for the company from $34.00 to $91.00 in a research report on Thursday, March 24th. StockNews.com assumed coverage on shares of Reata Pharmaceuticals in a research report on Thursday, March 31st. They set a sell rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Reata Pharmaceuticals has an average rating of Buy and an average target price of $109.13.

Shares of NASDAQ:RETA opened at $24.54 on Wednesday. The company has a market cap of $893.26 million, a PE ratio of -2.94 and a beta of 1.25. The company’s 50-day moving average price is $31.48 and its 200 day moving average price is $43.19. Reata Pharmaceuticals has a fifty-two week low of $20.24 and a fifty-two week high of $153.41.

Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($2.03) earnings per share for the quarter, beating the consensus estimate of ($2.26) by $0.23. The firm had revenue of $0.91 million for the quarter, compared to the consensus estimate of $1.55 million. Reata Pharmaceuticals had a negative net margin of 2,650.72% and a negative return on equity of 137.52%. Reata Pharmaceuticals’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted ($1.86) EPS. As a group, sell-side analysts anticipate that Reata Pharmaceuticals will post -8.57 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC acquired a new position in shares of Reata Pharmaceuticals in the 1st quarter worth approximately $2,724,000. Charles Schwab Investment Management Inc. grew its stake in shares of Reata Pharmaceuticals by 3.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 200,153 shares of the company’s stock worth $6,558,000 after purchasing an additional 6,526 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Reata Pharmaceuticals in the 1st quarter worth approximately $317,000. Vanguard Group Inc. grew its stake in shares of Reata Pharmaceuticals by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 2,643,082 shares of the company’s stock worth $86,587,000 after purchasing an additional 85,409 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Reata Pharmaceuticals by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 15,591 shares of the company’s stock worth $511,000 after purchasing an additional 5,754 shares during the last quarter. 73.55% of the stock is currently owned by institutional investors.

About Reata Pharmaceuticals (Get Rating)

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 that is Phase II clinical trial to treat Friedreich's ataxia; and conduct Phase 2 study for various form of CKD, such as IgA nephropathy, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.

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