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

Equities analysts expect Reata Pharmaceuticals, Inc. (NASDAQ:RETAGet 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:RETAGet 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.

See Also

Get a free copy of the Zacks research report on Reata Pharmaceuticals (RETA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Reata Pharmaceuticals (NASDAQ:RETA)

Receive News & Ratings for Reata Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reata Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.