Zacks: Brokerages Anticipate Reata Pharmaceuticals Inc (RETA) to Announce -$0.97 Earnings Per Share

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Wall Street analysts predict that Reata Pharmaceuticals Inc (NASDAQ:RETA) will report earnings of ($0.97) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Reata Pharmaceuticals’ earnings, with estimates ranging from ($1.03) to ($0.94). Reata Pharmaceuticals reported earnings per share of $0.15 in the same quarter last year, which suggests a negative year over year growth rate of 746.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Reata Pharmaceuticals will report full year earnings of ($4.56) per share for the current financial year, with EPS estimates ranging from ($4.93) to ($4.12). For the next fiscal year, analysts forecast that the business will report earnings of ($3.00) per share, with EPS estimates ranging from ($4.79) to ($0.35). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Reata Pharmaceuticals.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its earnings results on Thursday, February 28th. The company reported ($0.86) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.02) by $0.16. The firm had revenue of $8.45 million during the quarter, compared to analysts’ expectations of $6.60 million.

Several brokerages have recently commented on RETA. BidaskClub downgraded shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Cantor Fitzgerald set a $100.00 target price on shares of Reata Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, February 20th. Finally, ValuEngine upgraded shares of Reata Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $100.33.

Shares of RETA stock traded down $0.86 on Wednesday, hitting $79.17. The stock had a trading volume of 90,339 shares, compared to its average volume of 234,436. The company has a market cap of $2.40 billion, a P/E ratio of -27.59 and a beta of 3.12. The company has a debt-to-equity ratio of 5.23, a current ratio of 6.12 and a quick ratio of 6.12. Reata Pharmaceuticals has a 12-month low of $24.70 and a 12-month high of $104.53.

In related news, CFO Jason Douglas Wilson sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $83.82, for a total transaction of $335,280.00. Following the completion of the sale, the chief financial officer now owns 4,000 shares in the company, valued at $335,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keith Wayne Ward sold 15,183 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $91.00, for a total transaction of $1,381,653.00. Following the sale, the insider now owns 23,803 shares of the company’s stock, valued at approximately $2,166,073. The disclosure for this sale can be found here. Insiders have sold 58,377 shares of company stock valued at $5,211,691 in the last 90 days. 31.69% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of RETA. Rhumbline Advisers increased its holdings in Reata Pharmaceuticals by 9.3% during the third quarter. Rhumbline Advisers now owns 16,806 shares of the company’s stock worth $1,374,000 after buying an additional 1,431 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Reata Pharmaceuticals by 31.8% during the third quarter. Alliancebernstein L.P. now owns 23,600 shares of the company’s stock worth $1,930,000 after buying an additional 5,700 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Reata Pharmaceuticals by 44.7% during the third quarter. Bank of New York Mellon Corp now owns 94,881 shares of the company’s stock worth $7,758,000 after buying an additional 29,294 shares during the last quarter. BlackRock Inc. increased its holdings in Reata Pharmaceuticals by 28.2% during the third quarter. BlackRock Inc. now owns 1,928,362 shares of the company’s stock worth $157,663,000 after buying an additional 424,582 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in shares of Reata Pharmaceuticals in the third quarter worth about $1,017,000. Institutional investors and hedge funds own 53.60% of the company’s stock.

Reata Pharmaceuticals Company Profile

Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl (Bard) for the treatment of patients with chronic kidney disease caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; and omaveloxolone that is Phase II clinical trial for the treatment of patients with Friedreich's ataxia It is also developing RTA 901, which completed Phase 1 clinical trials for the treatment of orphan neurological indications; and RORgT Inhibitors that are in the preclinical development phase for the potential treatment of a range of autoimmune, inflammatory, and fibrotic diseases.

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