Reata Pharmaceuticals Gets Price Target Bumps By Analysts Following FDA Approval Of Skyclarys

Reata Pharmaceuticals Inc RETA reported the FDA approval of SKYCLARYS for patients with Friedreich's ataxia.

With this approval, the FDA granted a rare pediatric disease priority review voucher.

Reata Pharmaceuticals shares jumped 175% to $85.75 in pre-market trading.

These analysts made changes to their price targets on Reata Pharmaceuticals following the release of results.

• Barclays raised the price target on Reata Pharmaceuticals from $50 to $90. Barclays analyst Carter Gould maintained an Overweight rating.
• Goldman Sachs boosted the price target on Reata Pharmaceuticals from $117 to $185. Goldman Sachs analyst Madhu Kumar maintained a Buy rating.
• Citigroup increased the price target on Reata Pharmaceuticals from $53 to $120. Citigroup analyst Yigal Nochomovitz maintained a Buy rating.

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