Zacks: Analysts Expect Reata Pharmaceuticals, Inc. (RETA) Will Announce Earnings of -$0.42 Per Share
Equities research analysts forecast that Reata Pharmaceuticals, Inc. (NASDAQ:RETA) will report earnings per share (EPS) of ($0.42) for the current quarter, according to Zacks. Four analysts have provided estimates for Reata Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.56) and the highest is ($0.22). Reata Pharmaceuticals posted earnings of ($0.04) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 950%. The business is scheduled to announce its next quarterly earnings results on Monday, November 13th.
On average, analysts expect that Reata Pharmaceuticals will report full year earnings of ($1.73) per share for the current year, with EPS estimates ranging from ($2.11) to ($1.26). For the next year, analysts expect that the business will report earnings of ($2.13) per share, with EPS estimates ranging from ($2.94) to ($1.13). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Reata Pharmaceuticals.
Several research firms recently weighed in on RETA. ValuEngine cut shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. Citigroup Inc. restated a “buy” rating and issued a $78.00 price objective (down from $87.00) on shares of Reata Pharmaceuticals in a research report on Wednesday, August 23rd. Jefferies Group LLC restated a “buy” rating and issued a $44.00 price objective on shares of Reata Pharmaceuticals in a research report on Friday, October 6th. Leerink Swann began coverage on shares of Reata Pharmaceuticals in a research report on Wednesday, September 13th. They issued an “outperform” rating and a $43.00 price objective on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective (up from $38.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $54.71.
In related news, Director James Edward Bass acquired 8,064 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average cost of $31.00 per share, for a total transaction of $249,984.00. Following the completion of the transaction, the director now owns 67,411 shares in the company, valued at $2,089,741. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 62.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of RETA. Teachers Advisors LLC grew its position in Reata Pharmaceuticals by 12.8% during the fourth quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock valued at $221,000 after acquiring an additional 1,148 shares during the last quarter. Bank of New York Mellon Corp grew its position in Reata Pharmaceuticals by 18.1% during the first quarter. Bank of New York Mellon Corp now owns 22,213 shares of the company’s stock valued at $503,000 after acquiring an additional 3,407 shares during the last quarter. Victory Capital Management Inc. bought a new position in Reata Pharmaceuticals during the first quarter valued at approximately $483,000. FMR LLC grew its position in Reata Pharmaceuticals by 40.6% during the first quarter. FMR LLC now owns 237,606 shares of the company’s stock valued at $5,382,000 after acquiring an additional 68,600 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in Reata Pharmaceuticals during the first quarter valued at approximately $395,000. Institutional investors and hedge funds own 15.56% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Reata Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reata Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.