Reata Pharmaceuticals, Inc. to Post FY2022 Earnings of ($8.54) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:RETA)

Reata Pharmaceuticals, Inc. (NASDAQ:RETAGet Rating) – Equities researchers at Cantor Fitzgerald upped their FY2022 earnings estimates for shares of Reata Pharmaceuticals in a report issued on Wednesday, May 11th. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will post earnings per share of ($8.54) for the year, up from their previous estimate of ($9.61).

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($2.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.26) by $0.23. The business had revenue of $0.91 million for the quarter, compared to the consensus estimate of $1.55 million. Reata Pharmaceuticals had a negative return on equity of 120.58% and a negative net margin of 2,650.72%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted ($1.86) EPS.

A number of other analysts have also recently weighed in on RETA. LADENBURG THALM/SH SH lowered their price target on shares of Reata Pharmaceuticals from $75.00 to $67.00 in a report on Wednesday. StockNews.com began coverage on Reata Pharmaceuticals in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, The Goldman Sachs Group raised Reata Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $91.00 in a research report on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Reata Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $109.13.

RETA opened at $22.62 on Friday. The firm has a market capitalization of $823.37 million, a PE ratio of -2.71 and a beta of 1.25. The business’s 50-day moving average is $31.61 and its two-hundred day moving average is $43.31. Reata Pharmaceuticals has a 1 year low of $20.24 and a 1 year high of $153.41.

A number of institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC grew its stake in Reata Pharmaceuticals by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 15,591 shares of the company’s stock valued at $511,000 after purchasing an additional 5,754 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Reata Pharmaceuticals by 930.5% during the first quarter. US Bancorp DE now owns 1,824 shares of the company’s stock worth $60,000 after purchasing an additional 1,647 shares during the period. Bank of New York Mellon Corp boosted its position in Reata Pharmaceuticals by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 120,675 shares of the company’s stock valued at $3,953,000 after buying an additional 1,927 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in 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 buying an additional 4,398 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in Reata Pharmaceuticals during the 1st quarter worth approximately $535,000. 73.55% of the stock is owned by institutional investors.

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.

Further Reading

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

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