Reata Pharmaceuticals (RETA) Releases Quarterly Earnings Results, Misses Expectations By $0.28 EPS

Reata Pharmaceuticals (NASDAQ:RETA) announced its quarterly earnings results on Wednesday. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.28), MarketWatch Earnings reports. The firm had revenue of $5.18 million for the quarter, compared to analysts’ expectations of $9.50 million.

NASDAQ:RETA traded down $4.39 during midday trading on Friday, reaching $65.80. 15,879 shares of the stock traded hands, compared to its average volume of 242,520. Reata Pharmaceuticals has a 12-month low of $19.31 and a 12-month high of $99.50. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -33.10 and a beta of 3.40.

Several brokerages have recently weighed in on RETA. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $100.00 price target on shares of Reata Pharmaceuticals in a research report on Monday, October 1st. Leerink Swann upped their price target on shares of Reata Pharmaceuticals from $64.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $133.00 price target on shares of Reata Pharmaceuticals in a research report on Wednesday, September 26th. BidaskClub cut shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, October 13th. Finally, Zacks Investment Research cut shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $100.33.

In related news, insider Keith Wayne Ward sold 4,750 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $66.97, for a total transaction of $318,107.50. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at $318,107.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 23,750 shares of company stock valued at $1,414,028 in the last three months. 31.69% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in Reata Pharmaceuticals by 9.3% during the third quarter. Rhumbline Advisers now owns 16,806 shares of the company’s stock valued at $1,374,000 after acquiring an additional 1,431 shares during the last quarter. Lee Financial Co purchased a new position in shares of Reata Pharmaceuticals in the third quarter worth $128,000. Northern Trust Corp raised its holdings in shares of Reata Pharmaceuticals by 1.4% in the first quarter. Northern Trust Corp now owns 129,984 shares of the company’s stock worth $2,666,000 after buying an additional 1,735 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Reata Pharmaceuticals by 53.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,460 shares of the company’s stock worth $191,000 after buying an additional 1,897 shares during the last quarter. Finally, American International Group Inc. raised its holdings in shares of Reata Pharmaceuticals by 19.7% in the third quarter. American International Group Inc. now owns 12,404 shares of the company’s stock worth $1,014,000 after buying an additional 2,044 shares during the last quarter. 40.73% of the stock is owned by institutional investors.

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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.

Further Reading: Outstanding Shares

Earnings History for Reata Pharmaceuticals (NASDAQ:RETA)

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