Brokerages Expect Reata Pharmaceuticals, Inc. (RETA) Will Announce Quarterly Sales of $12.59 Million
Analysts expect Reata Pharmaceuticals, Inc. (NASDAQ:RETA) to announce $12.59 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Reata Pharmaceuticals’ earnings. The lowest sales estimate is $12.45 million and the highest is $12.81 million. Reata Pharmaceuticals posted sales of $12.55 million in the same quarter last year, which suggests a positive year over year growth rate of 0.3%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 13th.
According to Zacks, analysts expect that Reata Pharmaceuticals will report full year sales of $12.59 million for the current year, with estimates ranging from $45.00 million to $51.15 million. For the next year, analysts expect that the firm will report sales of $50.06 million per share, with estimates ranging from $49.46 million to $50.42 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Reata Pharmaceuticals.
RETA has been the topic of several recent research reports. ValuEngine raised shares of Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. reissued a “buy” rating and issued a $78.00 price target (down from $87.00) on shares of Reata Pharmaceuticals in a report on Wednesday, August 23rd. Leerink Swann assumed coverage on shares of Reata Pharmaceuticals in a report on Wednesday, September 13th. They issued an “outperform” rating and a $43.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 target price (up from $38.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $47.00 target price on shares of Reata Pharmaceuticals in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $51.63.
In other news, Director James Edward Bass purchased 8,064 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was acquired at an average cost of $31.00 per share, for a total transaction of $249,984.00. Following the purchase, the director now directly owns 67,411 shares in the company, valued at approximately $2,089,741. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 62.40% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. FMR LLC grew its stake in shares of Reata Pharmaceuticals by 74.4% during the 2nd quarter. FMR LLC now owns 414,491 shares of the company’s stock valued at $13,114,000 after acquiring an additional 176,885 shares during the period. Emerald Advisers Inc. PA lifted its holdings in Reata Pharmaceuticals by 9.8% in the 2nd quarter. Emerald Advisers Inc. PA now owns 406,426 shares of the company’s stock worth $12,859,000 after purchasing an additional 36,227 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Reata Pharmaceuticals by 109.6% in the 2nd quarter. Vanguard Group Inc. now owns 295,540 shares of the company’s stock worth $9,350,000 after purchasing an additional 154,515 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in Reata Pharmaceuticals by 7.0% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 293,927 shares of the company’s stock worth $9,300,000 after purchasing an additional 19,235 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Reata Pharmaceuticals by 78.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 232,562 shares of the company’s stock worth $7,359,000 after purchasing an additional 101,969 shares in the last quarter. Institutional investors own 15.56% of the company’s stock.
Shares of Reata Pharmaceuticals (NASDAQ RETA) opened at 31.46 on Tuesday. The stock’s 50 day moving average is $28.66 and its 200-day moving average is $26.95. The firm’s market cap is $821.20 million. Reata Pharmaceuticals has a 1-year low of $18.51 and a 1-year high of $41.60.
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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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