Jefferies Group Analysts Lower Earnings Estimates for Reata Pharmaceuticals, Inc. (RETA)
Reata Pharmaceuticals, Inc. (NASDAQ:RETA) – Equities researchers at Jefferies Group dropped their FY2017 EPS estimates for shares of Reata Pharmaceuticals in a note issued to investors on Tuesday. Jefferies Group analyst M. Raycroft now expects that the company will post earnings of ($1.82) per share for the year, down from their previous forecast of ($1.65). Jefferies Group has a “Buy” rating and a $44.00 price target on the stock. Jefferies Group also issued estimates for Reata Pharmaceuticals’ Q4 2017 earnings at ($0.46) EPS, FY2018 earnings at ($2.53) EPS, FY2019 earnings at ($3.58) EPS, FY2020 earnings at ($0.72) EPS and FY2021 earnings at ($1.14) EPS.
A number of other equities research analysts have also commented on RETA. Piper Jaffray Companies increased their price target on Reata Pharmaceuticals from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Citigroup Inc. reaffirmed a “buy” rating and set a $87.00 target price (up from $39.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 target price (up from $38.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, July 25th. Robert W. Baird reaffirmed an “outperform” rating and set a $47.00 target price (up from $43.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, July 25th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $61.00 target price (up from $55.00) on shares of Reata Pharmaceuticals in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. Reata Pharmaceuticals presently has an average rating of “Buy” and an average price target of $54.71.
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Reata Pharmaceuticals (NASDAQ:RETA) last released its quarterly earnings results on Monday, November 13th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.11). The company had revenue of $12.60 million during the quarter, compared to analyst estimates of $12.54 million. The firm’s revenue for the quarter was up .0% compared to the same quarter last year.
Several hedge funds have recently bought and sold shares of the company. Crestline Management LP bought a new position in shares of Reata Pharmaceuticals during the 3rd quarter worth $1,880,000. First Allied Advisory Services Inc. bought a new position in shares of Reata Pharmaceuticals during the 3rd quarter worth $203,000. Alyeska Investment Group L.P. bought a new position in shares of Reata Pharmaceuticals during the 3rd quarter worth $2,832,000. California State Teachers Retirement System grew its stake in shares of Reata Pharmaceuticals by 21.2% during the 3rd quarter. California State Teachers Retirement System now owns 18,325 shares of the company’s stock worth $570,000 after acquiring an additional 3,200 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Reata Pharmaceuticals by 83.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 49,828 shares of the company’s stock worth $1,550,000 after acquiring an additional 22,628 shares during the period. Institutional investors own 17.43% of the company’s stock.
In other Reata Pharmaceuticals news, Director James Edward Bass bought 3,888 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was purchased at an average cost of $24.02 per share, with a total value of $93,389.76. Following the transaction, the director now directly owns 52,089 shares in the company, valued at approximately $1,251,177.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 62.40% 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.
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