Wall Street analysts forecast that Reata Pharmaceuticals, Inc. (NASDAQ:RETA) will post earnings per share of ($0.31) for the current quarter, Zacks reports. Two analysts have made estimates for Reata Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.19) and the lowest estimate coming in at ($0.38). Reata Pharmaceuticals posted earnings of ($0.05) per share during the same quarter last year, which suggests a negative year over year growth rate of 520%. The firm is scheduled to report its next earnings report on Thursday, August 10th.
According to Zacks, analysts expect that Reata Pharmaceuticals will report full year earnings of ($1.34) per share for the current year, with EPS estimates ranging from ($1.66) to ($0.93). For the next fiscal year, analysts forecast that the firm will post earnings of ($1.84) per share, with EPS estimates ranging from ($2.80) to ($1.07). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Reata Pharmaceuticals.
Several research firms have recently weighed in on RETA. Robert W. Baird reaffirmed an “outperform” rating and issued a $47.00 price objective (up from $43.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price objective (up from $38.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Citigroup Inc. reaffirmed a “buy” rating and issued a $87.00 price objective (up from $39.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $61.00 price objective (up from $55.00) on shares of Reata Pharmaceuticals in a research note on Wednesday, July 26th. Finally, Zacks Investment Research lowered Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Reata Pharmaceuticals presently has an average rating of “Buy” and an average price target of $55.83.
In related news, Director James Edward Bass purchased 8,064 shares of Reata Pharmaceuticals stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $31.00 per share, with a total value of $249,984.00. Following the transaction, the director now owns 67,411 shares of the company’s stock, valued at approximately $2,089,741. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder A/S Novo sold 23,327 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $28.67, for a total value of $668,785.09. Following the transaction, the insider now directly owns 942,467 shares in the company, valued at $27,020,528.89. The disclosure for this sale can be found here. Insiders sold a total of 471,886 shares of company stock worth $12,541,056 over the last ninety days. Corporate insiders own 62.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Reata Pharmaceuticals by 19.5% in the first quarter. Geode Capital Management LLC now owns 63,778 shares of the company’s stock valued at $1,444,000 after buying an additional 10,397 shares during the period. Fifth Third Bancorp bought a new position in Reata Pharmaceuticals during the first quarter valued at approximately $395,000. RGT Capital Management Ltd. bought a new position in Reata Pharmaceuticals during the first quarter valued at approximately $1,347,000. FMR LLC raised its position in Reata Pharmaceuticals by 40.6% in the first quarter. FMR LLC now owns 237,606 shares of the company’s stock valued at $5,382,000 after buying an additional 68,600 shares during the period. Finally, Atlantic Trust Group LLC bought a new position in Reata Pharmaceuticals during the first quarter valued at approximately $285,000. 41.63% of the stock is currently owned by hedge funds and other institutional investors.
Reata Pharmaceuticals (NASDAQ:RETA) opened at 29.58 on Monday. The firm’s market cap is $661.56 million. The firm has a 50-day moving average of $30.77 and a 200-day moving average of $25.85. Reata Pharmaceuticals has a 52-week low of $15.17 and a 52-week high of $41.60.
Reata Pharmaceuticals Company Profile
Reata Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on identifying, developing and commercializing product candidates that modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a range of serious or life-threatening diseases.
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