Paragon Associates & Paragon Associates II Joint Venture lessened its holdings in shares of Reata Pharmaceuticals Inc (NASDAQ:RETA) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 201,000 shares of the company’s stock after selling 2,500 shares during the period. Reata Pharmaceuticals comprises 34.4% of Paragon Associates & Paragon Associates II Joint Venture’s portfolio, making the stock its largest holding. Paragon Associates & Paragon Associates II Joint Venture’s holdings in Reata Pharmaceuticals were worth $31,360,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in RETA. Amundi Pioneer Asset Management Inc. bought a new position in shares of Reata Pharmaceuticals in the first quarter worth about $11,462,000. Raymond James & Associates lifted its holdings in Reata Pharmaceuticals by 151.5% during the 1st quarter. Raymond James & Associates now owns 5,156 shares of the company’s stock worth $744,000 after buying an additional 3,106 shares in the last quarter. Dupont Capital Management Corp boosted its position in Reata Pharmaceuticals by 15.9% in the 1st quarter. Dupont Capital Management Corp now owns 2,012 shares of the company’s stock valued at $290,000 after buying an additional 276 shares during the last quarter. Comerica Bank increased its stake in shares of Reata Pharmaceuticals by 18.5% in the 1st quarter. Comerica Bank now owns 3,327 shares of the company’s stock valued at $534,000 after buying an additional 520 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Reata Pharmaceuticals by 111.7% in the 1st quarter. SG Americas Securities LLC now owns 5,750 shares of the company’s stock valued at $830,000 after buying an additional 3,034 shares during the period. Institutional investors own 68.25% of the company’s stock.
RETA has been the topic of several recent research reports. Robert W. Baird reiterated a “buy” rating and issued a $268.00 price target on shares of Reata Pharmaceuticals in a report on Friday, June 12th. BTIG Research assumed coverage on shares of Reata Pharmaceuticals in a research note on Tuesday, June 16th. They issued a “buy” rating and a $237.00 target price on the stock. Cantor Fitzgerald dropped their price target on shares of Reata Pharmaceuticals from $275.00 to $169.00 in a research note on Tuesday, August 11th. Citigroup reduced their price objective on shares of Reata Pharmaceuticals from $254.00 to $244.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Finally, BidaskClub lowered shares of Reata Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $232.22.
RETA traded down $3.43 during mid-day trading on Friday, hitting $97.36. The stock had a trading volume of 264,000 shares, compared to its average volume of 538,462. The stock’s fifty day simple moving average is $129.91 and its 200-day simple moving average is $152.38. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -9.07 and a beta of 1.61. Reata Pharmaceuticals Inc has a 1-year low of $73.38 and a 1-year high of $257.96.
Reata Pharmaceuticals (NASDAQ:RETA) last released its quarterly earnings data on Monday, August 10th. The company reported ($2.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.22) by $0.19. The business had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $1.46 million. Reata Pharmaceuticals had a negative net margin of 2,237.00% and a negative return on equity of 211.27%. The company’s quarterly revenue was down 60.3% on a year-over-year basis. As a group, analysts forecast that Reata Pharmaceuticals Inc will post -8.03 earnings per share for the current year.
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.
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