Analysts at Zacks Investment Research upgraded shares of Reata Pharmaceuticals Inc (NASDAQ: RETA) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have commented on the company in recent days, and Reata Pharmaceuticals Inc has earned a consensus one-year price target of $32.50, higher than the opening price of $26.59. Reata Pharmaceuticals Inc stock has a 52-week high of $32.22. Share prices often trend to the upside on recommendations and new price targets of professional brokerage firms.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Reata Pharmaceuticals Inc (NASDAQ: RETA) opened at $26.59 yesterday and traded in a range between, $26.48 and $29.65, and last traded at $27.71, an increase of $1.26 over the previous closing price.
Reata Pharmaceuticals Inc (NASDAQ: RETA) currently has a market cap of 618.63M.
The stock’s average daily volume is 111,059 shares out of a total float 14,765,000 and some 304,663 shares crossed the trading desk yesterday, above the average. Considerable volume aggregation by institutional investors may be on the horizon as the combination of significant expansions in trading volume and price appreciation can be determining components.
As with all potential breakouts, investors watch for volume to be at least 40%-50% greater than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Traders can make the best trades when they track the trading habits of professional investors.
With that in mind, Reata Pharmaceuticals Inc (NASDAQ: RETA) now has a 50-day MA of $20.60 and 200-day MA of $19.32. It has traded in a 52-week range between $11.03 – 32.22 and today’s last price is 0.14% lower than the 52 week high of $32.22.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings at least 25% or more for the past 3 years.
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