Analysts forecast that Reata Pharmaceuticals Inc (NASDAQ:RETA) will announce earnings of ($0.82) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Reata Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.65) and the lowest estimate coming in at ($0.99). Reata Pharmaceuticals posted earnings of ($0.50) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 64%. The business is scheduled to issue its next earnings results on Monday, November 12th.
On average, analysts expect that Reata Pharmaceuticals will report full-year earnings of ($2.59) per share for the current financial year, with EPS estimates ranging from ($2.90) to ($2.26). For the next fiscal year, analysts anticipate that the firm will post earnings of ($3.49) per share, with EPS estimates ranging from ($4.16) to ($3.15). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Reata Pharmaceuticals.
Reata Pharmaceuticals (NASDAQ:RETA) last posted its quarterly earnings results on Wednesday, August 8th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.34). The firm had revenue of $7.57 million for the quarter, compared to the consensus estimate of $9.11 million.
A number of equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Reata Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Reata Pharmaceuticals from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Friday, July 13th. Robert W. Baird lifted their price target on shares of Reata Pharmaceuticals from $47.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. BidaskClub upgraded shares of Reata Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 18th. Finally, LADENBURG THALM/SH SH reiterated a “buy” rating and set a $133.00 price target on shares of Reata Pharmaceuticals in a research report on Wednesday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Reata Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $100.33.
In related news, Director James Edward Bass acquired 888 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The stock was purchased at an average cost of $78.34 per share, for a total transaction of $69,565.92. Following the transaction, the director now directly owns 51,543 shares of the company’s stock, valued at approximately $4,037,878.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Elaine Castellanos sold 7,336 shares of Reata Pharmaceuticals stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $50.81, for a total value of $372,742.16. Following the transaction, the insider now owns 140 shares of the company’s stock, valued at $7,113.40. The disclosure for this sale can be found here. Insiders own 31.69% of the company’s stock.
Several institutional investors have recently modified their holdings of RETA. Cubist Systematic Strategies LLC acquired a new position in shares of Reata Pharmaceuticals during the 2nd quarter worth approximately $154,000. Metropolitan Life Insurance Co. NY raised its position in shares of Reata Pharmaceuticals by 53.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,460 shares of the company’s stock worth $191,000 after purchasing an additional 1,897 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of Reata Pharmaceuticals during the 2nd quarter worth approximately $213,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Reata Pharmaceuticals during the 2nd quarter worth approximately $242,000. Finally, MetLife Investment Advisors LLC raised its position in shares of Reata Pharmaceuticals by 72.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 7,732 shares of the company’s stock worth $270,000 after purchasing an additional 3,255 shares during the last quarter. Hedge funds and other institutional investors own 46.63% of the company’s stock.
RETA stock opened at $61.26 on Friday. Reata Pharmaceuticals has a 12-month low of $19.31 and a 12-month high of $99.50. The company has a debt-to-equity ratio of -0.47, a current ratio of 3.09 and a quick ratio of 3.09. The company has a market cap of $2.43 billion, a PE ratio of -30.11 and a beta of 2.79.
About Reata Pharmaceuticals
Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on identifying, developing, and commercializing therapeutics to address serious and life-threatening diseases with therapies by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl for the treatment of patients with chronic kidney disease caused by Alport syndrome; and for a form of pulmonary arterial hypertension associated with connective tissue disease.
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