Reata Pharmaceuticals, Inc. (NASDAQ:RETA) Expected to Post Quarterly Sales of $2.57 Million

Analysts expect Reata Pharmaceuticals, Inc. (NASDAQ:RETA – Get Rating) to post $2.57 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Reata Pharmaceuticals’ earnings. The highest sales estimate is $3.13 million and the lowest is $2.00 million. Reata Pharmaceuticals reported sales of $2.22 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.8%. The firm is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Reata Pharmaceuticals will report full year sales of $6.31 million for the current financial year, with estimates ranging from $900,000.00 to $11.12 million. For the next financial year, analysts forecast that the company will report sales of $50.33 million, with estimates ranging from $29.57 million to $83.90 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Reata Pharmaceuticals.

Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) last posted its 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. Reata Pharmaceuticals had a negative net margin of 2,650.72% and a negative return on equity of 137.52%. The business had revenue of $0.91 million for the quarter, compared to analyst estimates of $1.55 million. During the same period last year, the business posted ($1.86) EPS. Reata Pharmaceuticals’s revenue was down 3.2% compared to the same quarter last year.

A number of analysts have weighed in on RETA shares. StockNews.com started coverage on shares of Reata Pharmaceuticals in a report on Thursday, March 31st. They issued a “sell” rating for the company. The Goldman Sachs Group raised shares of 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 report on Thursday, March 24th. Finally, LADENBURG THALM/SH SH reduced their price objective on shares of Reata Pharmaceuticals from $75.00 to $67.00 in a report on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Reata Pharmaceuticals presently has an average rating of “Hold” and an average price target of $64.17.

A number of hedge funds have recently made changes to their positions in RETA. FourThought Financial LLC increased its position in Reata Pharmaceuticals by 58.0% in the 3rd quarter. FourThought Financial LLC now owns 583 shares of the company’s stock valued at $58,000 after acquiring an additional 214 shares in the last quarter. Macquarie Group Ltd. increased its position in Reata Pharmaceuticals by 60.1% in the 3rd quarter. Macquarie Group Ltd. now owns 594 shares of the company’s stock valued at $60,000 after acquiring an additional 223 shares in the last quarter. US Bancorp DE increased its position in Reata Pharmaceuticals by 930.5% in the 1st quarter. US Bancorp DE now owns 1,824 shares of the company’s stock valued at $60,000 after acquiring an additional 1,647 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Reata Pharmaceuticals by 6,360.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 646 shares of the company’s stock valued at $65,000 after acquiring an additional 636 shares in the last quarter. Finally, First Mercantile Trust Co. increased its position in Reata Pharmaceuticals by 20.6% in the 3rd quarter. First Mercantile Trust Co. now owns 721 shares of the company’s stock valued at $73,000 after acquiring an additional 123 shares in the last quarter. 73.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Reata Pharmaceuticals stock opened at $28.78 on Friday. Reata Pharmaceuticals has a fifty-two week low of $20.24 and a fifty-two week high of $153.41. The firm has a fifty day moving average price of $30.96 and a two-hundred day moving average price of $40.41. The company has a market cap of $1.05 billion, a PE ratio of -3.45 and a beta of 1.25.

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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