Wall Street brokerages expect Reata Pharmaceuticals Inc (NASDAQ:RETA) to announce ($0.82) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Reata Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.99) and the highest estimate coming in at ($0.65). Reata Pharmaceuticals reported earnings per share of ($0.50) during the same quarter last year, which suggests a negative year over year growth rate of 64%. The company is scheduled to report its next quarterly earnings results before the market opens on Wednesday, November 7th.
On average, analysts expect that Reata Pharmaceuticals will report full year earnings of ($2.59) per share for the current fiscal year, with EPS estimates ranging from ($2.90) to ($2.26). For the next year, analysts anticipate that the company will post earnings of ($3.49) per share, with EPS estimates ranging from ($4.16) to ($3.15). Zacks’ EPS calculations are a mean 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) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.34). The firm had revenue of $7.57 million during the quarter, compared to analyst estimates of $9.11 million.
Several research firms have recently commented on RETA. Cantor Fitzgerald set a $100.00 price target on Reata Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday. BidaskClub upgraded Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Zacks Investment Research upgraded Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. ValuEngine upgraded Reata Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Finally, Robert W. Baird lifted their price target on Reata Pharmaceuticals from $47.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, July 24th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Reata Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $100.33.
Shares of NASDAQ RETA traded up $9.65 during trading on Wednesday, hitting $72.50. 163,534 shares of the company were exchanged, compared to its average volume of 252,296. Reata Pharmaceuticals has a 12-month low of $19.31 and a 12-month high of $99.50. The firm has a market cap of $1.84 billion, a PE ratio of -36.43 and a beta of 3.40.
In related news, insider Keith Wayne Ward sold 4,750 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $59.48, for a total value of $282,530.00. Following the sale, the insider now directly owns 4,750 shares in the company, valued at approximately $282,530. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.69% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in Reata Pharmaceuticals in the 2nd quarter valued at about $6,962,000. Wallace Capital Management Inc. purchased a new stake in Reata Pharmaceuticals in the 2nd quarter valued at about $271,000. MetLife Investment Advisors LLC raised its holdings in Reata Pharmaceuticals by 72.7% in the 2nd quarter. MetLife Investment Advisors LLC now owns 7,732 shares of the company’s stock valued at $270,000 after buying an additional 3,255 shares during the period. First Manhattan Co. purchased a new stake in Reata Pharmaceuticals in the 2nd quarter valued at about $807,000. Finally, Sio Capital Management LLC purchased a new stake in Reata Pharmaceuticals in the 2nd quarter valued at about $1,533,000. Hedge funds and other institutional investors own 40.73% of the company’s stock.
Reata Pharmaceuticals Company Profile
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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