Wall Street brokerages predict that Reata Pharmaceuticals, Inc. (NASDAQ:RETA) will announce earnings per share (EPS) of ($2.32) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Reata Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($2.17) and the lowest estimate coming in at ($2.46). Reata Pharmaceuticals reported earnings per share of ($1.94) during the same quarter last year, which would suggest a negative year-over-year growth rate of 19.6%. The firm is expected to report its next quarterly earnings results on Monday, November 8th.
According to Zacks, analysts expect that Reata Pharmaceuticals will report full-year earnings of ($8.47) per share for the current year, with EPS estimates ranging from ($9.03) to ($8.11). For the next year, analysts anticipate that the business will post earnings of ($9.50) per share, with EPS estimates ranging from ($11.56) to ($8.18). Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Reata Pharmaceuticals.
Reata Pharmaceuticals (NASDAQ:RETA) last issued its quarterly earnings results on Monday, August 9th. The company reported ($2.00) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.13) by $0.13. Reata Pharmaceuticals had a negative net margin of 3,498.16% and a negative return on equity of 84.38%. The company had revenue of $2.22 million during the quarter, compared to the consensus estimate of $1.32 million. During the same period in the prior year, the company earned ($2.03) EPS. Reata Pharmaceuticals’s revenue was down 27.7% on a year-over-year basis.
NASDAQ RETA traded down $3.59 on Monday, reaching $106.35. The company’s stock had a trading volume of 3,045 shares, compared to its average volume of 356,051. Reata Pharmaceuticals has a twelve month low of $76.34 and a twelve month high of $186.82. The stock has a market cap of $3.87 billion, a PE ratio of -13.85 and a beta of 1.54. The firm’s 50 day moving average is $116.17 and its two-hundred day moving average is $115.45.
A number of hedge funds and other institutional investors have recently bought and sold shares of RETA. Invesco Ltd. raised its holdings in Reata Pharmaceuticals by 36.6% during the 2nd quarter. Invesco Ltd. now owns 2,809,716 shares of the company’s stock worth $397,659,000 after buying an additional 753,356 shares during the period. FMR LLC raised its holdings in Reata Pharmaceuticals by 1,130.8% during the 2nd quarter. FMR LLC now owns 749,933 shares of the company’s stock worth $106,139,000 after buying an additional 689,001 shares during the period. BlackRock Inc. increased its holdings in shares of Reata Pharmaceuticals by 43.9% in the 2nd quarter. BlackRock Inc. now owns 2,135,771 shares of the company’s stock valued at $302,275,000 after purchasing an additional 651,773 shares during the period. Camber Capital Management LP acquired a new position in shares of Reata Pharmaceuticals in the 1st quarter valued at about $39,880,000. Finally, State Street Corp increased its holdings in shares of Reata Pharmaceuticals by 55.0% in the 2nd quarter. State Street Corp now owns 589,489 shares of the company’s stock valued at $83,430,000 after purchasing an additional 209,100 shares during the period. Hedge funds and other institutional investors own 72.33% of the company’s stock.
About Reata Pharmaceuticals
Reata Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which engages in identifying, developing, and commercializing pharmaceutical products. Its product candidates are bardoxolone methyl and omaveloxolone, which activate the transcription factor Nrf2 to restore mitochondrial function, reduce oxidative stress, and resolve inflammation.
Featured Story: What are economic reports?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.