Cantor Fitzgerald Believes Reata Pharmaceuticals (RETA) Still Has Room to Grow


In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Reata Pharmaceuticals (RETA), with a price target of $100. The company’s shares opened today at $94.34, close to its 52-week high of $99.50.

Duncan observed:

“. We reiterate our Overweight rating and $100 PT on RETA. Reata reported 4Q18 financial performance including collaboration revs of $7.9M, total expenses of $130.5M and cash of $338M. We project current cash to be sufficient to fund operations through 2020, including the three ongoing pivotal trials of bardoxalone in Alport syndrome and CTD-PAH, and omaveloxolone in Friedreich’s ataxia. We see 2019 as a potentially transformational year for the company, with two pivotal trial readouts in the second half and increasing visibility on a broadening set of bard’ indications going forward to further drive shares.”

According to TipRanks.com, Duncan is a 3-star analyst with an average return of 2.2% and a 48.4% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Reata Pharmaceuticals with a $100 average price target.

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Based on Reata Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $30.84 million. In comparison, last year the company had a GAAP net loss of $16.67 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RETA in relation to earlier this year.

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Reata Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in identifying, developing, and commercializing pharmaceutical products. Its lead product candidates are bardoxolone methyl and omaveloxolone, which activate the transcription factor Nrf2 to restore mitochondrial function, reduce oxidative stress, and resolve inflammation. The company was founded by J. Warren Huff on September 1, 2002 and is headquartered in Irving, TX.

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