$1.91 Million in Sales Expected for Reata Pharmaceuticals, Inc. (NASDAQ:RETA) This Quarter

Equities analysts expect Reata Pharmaceuticals, Inc. (NASDAQ:RETA – Get Rating) to report sales of $1.91 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Reata Pharmaceuticals’ earnings, with the highest sales estimate coming in at $2.94 million and the lowest estimate coming in at $800,000.00. Reata Pharmaceuticals reported sales of $940,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 103.2%. The company is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Reata Pharmaceuticals will report full-year sales of $7.32 million for the current year, with estimates ranging from $800,000.00 to $13.15 million. For the next fiscal year, analysts expect that the firm will report sales of $30.94 million, with estimates ranging from $22.11 million to $39.76 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Reata Pharmaceuticals.

Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) last issued its quarterly earnings results on Monday, February 28th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.31) by ($0.04). Reata Pharmaceuticals had a negative return on equity of 105.72% and a negative net margin of 2,588.22%. During the same period in the prior year, the company earned ($1.90) earnings per share.

Several research analysts have recently weighed in on the company. The Goldman Sachs Group raised Reata Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $91.00 in a research note on Thursday, March 24th. StockNews.com began coverage on Reata Pharmaceuticals in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Reata Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $115.14.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RETA. Amundi Pioneer Asset Management Inc. purchased a new position in Reata Pharmaceuticals in the first quarter worth about $11,462,000. Wells Fargo & Company MN boosted its position in shares of Reata Pharmaceuticals by 47.3% during the second quarter. Wells Fargo & Company MN now owns 14,938 shares of the company’s stock valued at $2,114,000 after buying an additional 4,796 shares during the period. Morgan Stanley boosted its position in shares of Reata Pharmaceuticals by 9.9% during the second quarter. Morgan Stanley now owns 68,580 shares of the company’s stock valued at $9,706,000 after buying an additional 6,193 shares during the period. Hellman Jordan Management Co. Inc. MA boosted its position in shares of Reata Pharmaceuticals by 48.5% during the third quarter. Hellman Jordan Management Co. Inc. MA now owns 6,708 shares of the company’s stock valued at $675,000 after buying an additional 2,190 shares during the period. Finally, Emerald Advisers LLC boosted its position in shares of Reata Pharmaceuticals by 12.1% during the third quarter. Emerald Advisers LLC now owns 276,155 shares of the company’s stock valued at $27,784,000 after buying an additional 29,712 shares during the period. Institutional investors own 72.49% of the company’s stock.

RETA traded up $1.76 on Friday, hitting $36.32. The company had a trading volume of 9,916 shares, compared to its average volume of 717,972. The stock has a fifty day moving average price of $31.49 and a 200-day moving average price of $54.10. Reata Pharmaceuticals has a 12-month low of $22.71 and a 12-month high of $153.41. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -4.43 and a beta of 1.14.

Reata Pharmaceuticals Company Profile (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 bardoxolone methyl (bardoxolone) for the treatment of patients with chronic kidney disease (CKD) caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; omaveloxolone that is Phase II clinical trial to treat Friedreich's ataxia; and conduct Phase 2 study for various form of CKD, such as IgA nephropathy, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.

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