Reata Pharmaceuticals, Inc. (NASDAQ:RETA – Get Rating) was up 4.6% during mid-day trading on Monday . The stock traded as high as $23.59 and last traded at $23.14. Approximately 14,495 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 674,305 shares. The stock had previously closed at $22.12.
Wall Street Analysts Forecast Growth
Separately, Robert W. Baird lowered their price objective on shares of Reata Pharmaceuticals from $37.00 to $27.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Reata Pharmaceuticals currently has a consensus rating of "Hold" and an average price target of $57.57.
Get Reata Pharmaceuticals alerts:Reata Pharmaceuticals Price Performance
The stock's 50-day simple moving average is $26.54 and its two-hundred day simple moving average is $29.67. The firm has a market capitalization of $843.45 million, a P/E ratio of -2.72 and a beta of 1.16.
Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) last released its quarterly earnings data on Monday, August 8th. The company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($1.90) by ($0.12). Reata Pharmaceuticals had a negative net margin of 3,045.98% and a negative return on equity of 190.87%. The business had revenue of $0.76 million for the quarter, compared to the consensus estimate of $1.46 million. During the same quarter last year, the business earned ($2.00) EPS. Reata Pharmaceuticals's revenue for the quarter was down 65.7% compared to the same quarter last year. On average, analysts forecast that Reata Pharmaceuticals, Inc. will post -8.37 earnings per share for the current fiscal year.Institutional Trading of Reata Pharmaceuticals
A number of institutional investors have recently modified their holdings of RETA. US Bancorp DE boosted its position in shares of Reata Pharmaceuticals by 930.5% during the 1st quarter. US Bancorp DE now owns 1,824 shares of the company's stock valued at $60,000 after acquiring an additional 1,647 shares during the last quarter. UBS Group AG boosted its holdings in Reata Pharmaceuticals by 42.2% in the second quarter. UBS Group AG now owns 2,558 shares of the company's stock valued at $78,000 after purchasing an additional 759 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Reata Pharmaceuticals by 51.1% in the second quarter. Macquarie Group Ltd. now owns 2,768 shares of the company's stock valued at $84,000 after purchasing an additional 936 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Reata Pharmaceuticals in the first quarter valued at approximately $141,000. Finally, Virtus ETF Advisers LLC boosted its holdings in shares of Reata Pharmaceuticals by 282.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,684 shares of the company's stock valued at $150,000 after acquiring an additional 4,198 shares during the period. 76.00% of the stock is currently owned by institutional investors.
About Reata Pharmaceuticals
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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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