Baird analyst Brian Skorney raised the firm’s price target on Reata Pharmaceuticals (RETA) to $173 from $85 and keeps an Outperform rating on the shares. The firm said after one of the more brutal bull/bear debates in their experience covering biotech stocks, long-time supporters of the Nrf2 programs came out on top with the $7.3B acquisition by Biogen (BIIB). It makes perfect sense on paper for Biogen, given the near term top-line headwinds they have and the type of deal they were looking for.
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Read More on RETA:
- Reata Pharmaceuticals downgraded to Neutral from Buy at Ladenburg
- Reata downgraded to Market Perform from Outperform at SVB Securities
- Reata Pharmaceuticals downgraded to Hold from Buy at Jefferies
- Reata Pharmaceuticals downgraded to Neutral from Buy at Guggenheim
- Reata Pharmaceuticals downgraded to Neutral from Overweight at Cantor Fitzgerald
