Alps Advisors Inc. increased its position in shares of Reata Pharmaceuticals (NASDAQ:RETA) by 21.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,611 shares of the company’s stock after buying an additional 4,624 shares during the period. Alps Advisors Inc. owned about 0.10% of Reata Pharmaceuticals worth $546,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in RETA. BlackRock Inc. increased its stake in shares of Reata Pharmaceuticals by 34.3% during the fourth quarter. BlackRock Inc. now owns 1,203,993 shares of the company’s stock valued at $34,099,000 after buying an additional 307,636 shares during the period. Prosight Management LP purchased a new position in shares of Reata Pharmaceuticals during the fourth quarter valued at $4,896,000. Kennedy Capital Management Inc. increased its stake in shares of Reata Pharmaceuticals by 22.3% during the fourth quarter. Kennedy Capital Management Inc. now owns 249,806 shares of the company’s stock valued at $7,075,000 after buying an additional 45,546 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Reata Pharmaceuticals during the third quarter valued at $997,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Reata Pharmaceuticals by 53.3% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 92,000 shares of the company’s stock valued at $2,605,000 after buying an additional 32,000 shares during the period. Hedge funds and other institutional investors own 49.10% of the company’s stock.
Reata Pharmaceuticals opened at $32.13 on Friday, according to MarketBeat.com. Reata Pharmaceuticals has a 1 year low of $30.62 and a 1 year high of $31.30. The company has a debt-to-equity ratio of -0.12, a quick ratio of 2.62 and a current ratio of 2.62.
Reata Pharmaceuticals (NASDAQ:RETA) last posted its earnings results on Tuesday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.76. The company had revenue of $32.39 million during the quarter, compared to analysts’ expectations of $10.21 million. equities research analysts predict that Reata Pharmaceuticals will post -2.14 earnings per share for the current year.
RETA has been the topic of several research reports. BidaskClub lowered Reata Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, February 23rd. Zacks Investment Research lowered Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Finally, Cowen restated a “hold” rating on shares of Reata Pharmaceuticals in a research note on Monday, April 9th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Reata Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $54.71.
About Reata Pharmaceuticals
Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on identifying, developing, and commercializing therapeutics to address serious and life-threatening diseases with therapies by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl for the treatment of patients with chronic kidney disease caused by Alport syndrome; and for a form of pulmonary arterial hypertension associated with connective tissue disease.
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