Reata Pharmaceuticals Inc (NASDAQ:RETA) – Svb Leerink cut their FY2019 earnings per share estimates for Reata Pharmaceuticals in a report issued on Tuesday, November 12th. Svb Leerink analyst J. Schwartz now expects that the company will post earnings of ($7.40) per share for the year, down from their prior forecast of ($7.31). Svb Leerink also issued estimates for Reata Pharmaceuticals’ Q4 2019 earnings at ($3.85) EPS, Q1 2020 earnings at ($1.74) EPS, Q2 2020 earnings at ($5.94) EPS, Q3 2020 earnings at ($2.11) EPS, Q4 2020 earnings at ($2.40) EPS and FY2020 earnings at ($12.14) EPS.
RETA has been the subject of several other reports. Cantor Fitzgerald increased their price objective on Reata Pharmaceuticals from $180.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. ValuEngine raised Reata Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. LADENBURG THALM/SH SH restated a “positive” rating and issued a $239.00 target price (up previously from $133.00) on shares of Reata Pharmaceuticals in a research note on Wednesday, October 16th. BidaskClub raised Reata Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 2nd. Finally, National Securities downgraded Reata Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Reata Pharmaceuticals currently has an average rating of “Buy” and an average target price of $247.63.
Reata Pharmaceuticals (NASDAQ:RETA) last announced its earnings results on Tuesday, November 12th. The company reported ($1.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.25) by ($0.07). Reata Pharmaceuticals had a negative net margin of 398.84% and a negative return on equity of 3,282.73%. The firm had revenue of $8.24 million for the quarter, compared to the consensus estimate of $7.43 million. During the same period in the prior year, the business earned ($1.07) EPS. The company’s quarterly revenue was up 59.1% compared to the same quarter last year.
In other news, CEO James Warren Huff sold 63,000 shares of Reata Pharmaceuticals stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $86.61, for a total transaction of $5,456,430.00. Following the completion of the sale, the chief executive officer now directly owns 164,157 shares in the company, valued at approximately $14,217,637.77. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Elaine Castellanos sold 2,000 shares of Reata Pharmaceuticals stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the sale, the insider now owns 4,138 shares of the company’s stock, valued at $351,730. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,000 shares of company stock valued at $10,661,430. 34.40% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of RETA. Amundi Pioneer Asset Management Inc. bought a new position in shares of Reata Pharmaceuticals in the 1st quarter valued at approximately $11,462,000. Xact Kapitalforvaltning AB bought a new position in shares of Reata Pharmaceuticals in the 2nd quarter valued at approximately $255,000. Commonwealth Equity Services LLC bought a new position in shares of Reata Pharmaceuticals in the 2nd quarter valued at approximately $229,000. Strs Ohio raised its stake in shares of Reata Pharmaceuticals by 7.9% in the 2nd quarter. Strs Ohio now owns 4,100 shares of the company’s stock valued at $386,000 after acquiring an additional 300 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC raised its stake in shares of Reata Pharmaceuticals by 1.1% in the 2nd quarter. Osborn Williams & Donohoe LLC now owns 78,458 shares of the company’s stock valued at $7,403,000 after acquiring an additional 880 shares in the last quarter. 58.24% of the stock is currently owned by institutional investors and hedge funds.
About Reata Pharmaceuticals
Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl (Bard) for the treatment of patients with chronic kidney disease caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; and omaveloxolone that is Phase II clinical trial for the treatment of patients with Friedreich's ataxia It is also developing RTA 901, which completed Phase 1 clinical trials for the treatment of orphan neurological indications; and RORgT Inhibitors that are in the preclinical development phase for the potential treatment of a range of autoimmune, inflammatory, and fibrotic diseases.
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