Analysts expect that Reata Pharmaceuticals, Inc. (NASDAQ:RETA) will announce ($0.29) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Reata Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.19) and the lowest estimate coming in at ($0.37). Reata Pharmaceuticals reported earnings of ($0.05) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 480%. The firm is expected to announce its next earnings report on Thursday, August 10th.
According to Zacks, analysts expect that Reata Pharmaceuticals will report full-year earnings of ($1.16) per share for the current year, with EPS estimates ranging from ($1.66) to ($0.44). For the next financial year, analysts anticipate that the business will report earnings of ($1.61) per share, with EPS estimates ranging from ($2.80) to ($0.44). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Reata Pharmaceuticals.
A number of research firms have weighed in on RETA. Zacks Investment Research raised shares of Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, March 15th. Citigroup Inc. raised their target price on shares of Reata Pharmaceuticals from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Stifel Nicolaus began coverage on shares of Reata Pharmaceuticals in a research note on Wednesday, February 22nd. They issued a “buy” rating and a $38.00 target price on the stock. Piper Jaffray Companies reissued an “overweight” rating and issued a $48.00 target price on shares of Reata Pharmaceuticals in a research note on Monday, March 6th. Finally, ValuEngine raised shares of Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $40.00.
In other news, major shareholder A/S Novo sold 23,327 shares of Reata Pharmaceuticals stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $28.67, for a total transaction of $668,785.09. Following the sale, the insider now owns 942,467 shares of the company’s stock, valued at approximately $27,020,528.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Abbvie Inc. sold 450,000 shares of Reata Pharmaceuticals stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $22.50, for a total transaction of $10,125,000.00. Following the sale, the insider now directly owns 1,190,473 shares in the company, valued at approximately $26,785,642.50. The disclosure for this sale can be found here. Insiders sold a total of 921,886 shares of company stock worth $22,666,056 over the last three months. Corporate insiders own 62.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. purchased a new stake in Reata Pharmaceuticals during the fourth quarter valued at approximately $380,000. State Street Corp raised its stake in Reata Pharmaceuticals by 5.1% in the fourth quarter. State Street Corp now owns 100,414 shares of the company’s stock valued at $2,191,000 after buying an additional 4,879 shares during the last quarter. Interwest Venture Management Co. purchased a new stake in Reata Pharmaceuticals during the fourth quarter valued at approximately $285,000. Dynamic Technology Lab Private Ltd purchased a new stake in Reata Pharmaceuticals during the fourth quarter valued at approximately $216,000. Finally, Paragon Associates & Paragon Associates II Joint Venture raised its stake in Reata Pharmaceuticals by 66.7% in the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 250,000 shares of the company’s stock valued at $5,458,000 after buying an additional 100,000 shares during the last quarter. 44.21% of the stock is currently owned by hedge funds and other institutional investors.
Reata Pharmaceuticals (NASDAQ:RETA) traded up 5.19% during mid-day trading on Monday, reaching $26.98. The company’s stock had a trading volume of 258,615 shares. The stock has a 50-day moving average price of $24.59 and a 200-day moving average price of $23.95. Reata Pharmaceuticals has a one year low of $15.18 and a one year high of $41.60. The company’s market capitalization is $603.41 million.
About Reata Pharmaceuticals
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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