Wall Street brokerages predict that Reata Pharmaceuticals, Inc. (NASDAQ:RETA) will report sales of $12.58 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Reata Pharmaceuticals’ earnings. The lowest sales estimate is $12.44 million and the highest is $12.73 million. Reata Pharmaceuticals posted sales of $12.37 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The business is scheduled to issue its next earnings results on Thursday, August 10th.
On average, analysts expect that Reata Pharmaceuticals will report full-year sales of $12.58 million for the current year, with estimates ranging from $44.60 million to $50.92 million. For the next fiscal year, analysts expect that the business will post sales of $50.64 million per share, with estimates ranging from $50.37 million to $50.92 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Reata Pharmaceuticals.
A number of brokerages have commented on RETA. Piper Jaffray Companies restated an “overweight” rating and issued a $53.00 target price (up from $48.00) on shares of Reata Pharmaceuticals in a research note on Monday, June 5th. ValuEngine upgraded Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 27th. Zacks Investment Research upgraded Reata Pharmaceuticals from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Thursday, March 23rd. Citigroup Inc. lifted their target price on Reata Pharmaceuticals from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Finally, Ladenburg Thalmann Financial Services started coverage on Reata Pharmaceuticals in a report on Thursday, April 13th. They set a “buy” rating and a $55.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $43.00.
Shares of Reata Pharmaceuticals (NASDAQ RETA) traded down 0.12% during trading on Friday, hitting $33.37. The stock had a trading volume of 36,785 shares. The firm’s 50-day moving average is $26.73 and its 200-day moving average is $24.32. The firm’s market cap is $746.32 million. Reata Pharmaceuticals has a one year low of $15.18 and a one year high of $41.60.
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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 stock was 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 $27,020,528.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 471,886 shares of company stock worth $12,541,056. Corporate insiders own 62.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC boosted its stake in Reata Pharmaceuticals by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock worth $221,000 after buying an additional 1,148 shares during the period. Atlantic Trust Group LLC acquired a new stake in Reata Pharmaceuticals during the first quarter worth $285,000. Fifth Third Bancorp acquired a new stake in Reata Pharmaceuticals during the first quarter worth $395,000. Victory Capital Management Inc. acquired a new stake in Reata Pharmaceuticals during the first quarter worth $483,000. Finally, Bank of New York Mellon Corp boosted its stake in Reata Pharmaceuticals by 18.1% in the first quarter. Bank of New York Mellon Corp now owns 22,213 shares of the company’s stock worth $503,000 after buying an additional 3,407 shares during the period. 44.15% of the stock is currently owned by institutional investors.
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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