Reata Pharmaceuticals, Inc. (NASDAQ: RETA – Get Rating) – Stock analysts at Cantor Fitzgerald upped their FY2022 earnings per share (EPS) estimates for Reata Pharmaceuticals on Wednesday, May 11th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will earn ($ 8.54) per share for the year, up from their previous forecast of ($ 9.61).
Other equities analysts have also recently issued research reports about the company. LADENBURG THALM / SH SH lowered their target price on Reata Pharmaceuticals from $ 75.00 to $ 67.00 in a report on Wednesday. The Goldman Sachs Group upgraded shares of Reata Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $ 34.00 to $ 91.00 in a report on Thursday, March 24th. Finally, StockNews.com began coverage on shares of Reata Pharmaceuticals in a research report on Thursday, March 31st. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $ 109.13.
Shares of RETA opened at $ 22.62 on Friday. Reata Pharmaceuticals has a 52 week low of $ 20.24 and a 52 week high of $ 153.41. The stock has a market capitalization of $ 823.37 million, a price-to-earnings ratio of -2.71 and a beta of 1.25. The stock has a fifty-day moving average of $ 31.61 and a 200-day moving average of $ 43.31. Reata Pharmaceuticals (NASDAQ: RETA – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($ 2.03) EPS for the quarter, topping analysts’ consensus estimates of ($ 2.26) by $ 0.23. The firm had revenue of $ 0.91 million during the quarter, compared to analysts’ expectations of $ 1.55 million. Reata Pharmaceuticals had a negative net margin of 2,650.72% and a negative return on equity of 120.58%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($ 1.86) earnings per share.
Several large investors have recently bought and sold shares of the company. MetLife Investment Management LLC increased its position in shares of Reata Pharmaceuticals by 58.5% during the first quarter. MetLife Investment Management LLC now owns 15,591 shares of the company’s stock worth $ 511,000 after purchasing an additional 5,754 shares during the period. US Bancorp DE grew its holdings in Reata Pharmaceuticals by 930.5% during the 1st quarter. US Bancorp DE now owns 1,824 shares of the company’s stock worth $ 60,000 after acquiring an additional 1,647 shares during the period. Bank of New York Mellon Corp raised its position in shares of Reata Pharmaceuticals by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 120,675 shares of the company’s stock worth $ 3,953,000 after acquiring an additional 1,927 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Reata Pharmaceuticals by 18.5% in the 1st quarter. JPMorgan Chase & Co. now owns 28,162 shares of the company’s stock worth $ 923,000 after acquiring an additional 4,398 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Reata Pharmaceuticals during the 1st quarter valued at about $ 535,000. 73.55% of the stock is currently owned by institutional investors.
About Reata Pharmaceuticals (Get Rating)
Reata Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, identifies, develops, and commercializes novel therapeutics for patients with serious or life-threatening diseases. The company is developing phase 3 clinical trial programs, including treatment for bardoxolone methyl (bardoxolone) in patients with chronic kidney disease (CKD) by Alport syndrome, as well as a form of pulmonary arterial hypertension associated with connective tissue disease; omaveloxolone is a Phase II clinical trial to treat Friedreich’s ataxia; and conduct phase 2 studies for various forms of CKD, such as IgA nephropathy, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.
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