Cowen & Co. Reiterates a Buy Rating on Reata Pharmaceuticals

By Ryan Adsit

In a report released yesterday, Ritu Baral from Cowen & Co. reiterated a Buy rating on Reata Pharmaceuticals (NASDAQ: RETA). The company’s shares opened today at $25.87.

Baral observed:

“We hosted a series of investor meetings for RETA mgmt yesterday in NYC.”

According to TipRanks.com, Baral is a 3-star analyst with an average return of 2.1% and a 35.8% success rate. Baral covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Protalix Biotherapeutics, and Intra-Cellular Therapies.

Reata Pharmaceuticals has an analyst consensus of Moderate Buy.

Based on Reata Pharmaceuticals’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $12.55 million and GAAP net loss of $897K. In comparison, last year the company earned revenue of $12.93 million and had a net profit of $1.36 million.

Reata Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in identifying, developing, and commercializing pharmaceutical products. Its products include cardiovascular, rare diseases, immune-oncology, and ophthalmology. The company was founded by J. Warren Huff on September 1, 2002 and is headquartered in Irving, TX.