Reata Pharmaceuticals, Inc. (NASDAQ:RETA) is among the top gainers of the stock market today, skyrocketing 6.21% or (12.25 points) to $209.58 from its previous close of $197.33. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 112120 contracts so far this session. RETA shares had a relatively better volume day versus average trading capacity of 439.44 thousand shares, but with a 22.21 million float and a -3.46% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RETA stock indicates that the average analyst price target is $210.75 per share. This means the stock has a potential increase of 0.56% from where the RETA share price has been trading recently.
During the recent trading session for Reata Pharmaceuticals, Inc. (NASDAQ:RETA), the company witnessed their stock rise $2.27 over a week and surge $122.37 from the price 20 days ago. When compared to their established 52-week high of $215.1, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/11/19. The recent low of $47.5 stood for a -2.57% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.75 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Reata Pharmaceuticals, Inc., the two-week RSI stands at 73.56. This figure suggests that RETA stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current RETA readings is similarly very revealing as it has a stochastic reading of 79.97% at this stage. This figure means that RETA share price today is being oversold.
Technical chart claims that Reata Pharmaceuticals, Inc. (RETA) would settle between $209.98/share to $222.62/share level. However, if the stock price goes below the $188.85 mark, then the market for Reata Pharmaceuticals, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $180.36 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.91. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at National Securities, assumed coverage of RETA assigning Buy rating, according to their opinion released on September 26. Leerink Partners analysts again handed out a Outperform recommendation to Reata Pharmaceuticals, Inc. (NASDAQ:RETA) stock but they lifted target price for the shares in a flash note issued to investors on September 25. The target price has been raised from $116 to $139. Analysts at Leerink Partners, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to September 13.
RETA equity has an average rating of 1.22, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 8 analysts rated Reata Pharmaceuticals, Inc. (NASDAQ:RETA) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Reata Pharmaceuticals, Inc. (RETA)’s current-quarter revenues are projected to climb by nearly 43.8% to hit $7.44 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -44.7% from $53.59 million to a noteworthy $29.64 million. At the other end of the current quarter income statement, Reata Pharmaceuticals, Inc. is expected to see its adjusted earnings surge by roughly -15.9% to hit $-1.24 per share. For the fiscal year, RETA’s earnings are projected to climb by roughly -120.6% to hit $-6.42 per share.